Bye Bye Barbie: Mattel Sinks On Tanking Doll Sales

Apr 17 2014, 10:53am CDT | by

Bye Bye Barbie: Mattel Sinks On Tanking Doll Sales
Photo Credit: Forbes Business

For nearly 70 years, Barbie has ruled the dollhouse. But Mattel’s star may now be a relic of the past.

Mattel shares sank slightly on Thursday morning after the company announced a net loss of $11.2 million and shrinking sales – $946 million, down 5% compared last year. The company’s biggest problem was its declining Barbie sales. Worldwide gross sales for the brand were down 14%.

Barbie, by far Mattel’s biggest seller, brought down the rest of a tepid earnings statement. Other popular brands, like Hot Wheels (2%) and American Girl (5%), were up for the quarter. But Fisher-Price also fell 6%.

Mattel has recently tried to diversify away from Barbies and compete with the world’s largest toymaker, Lego. In February, Mattel bought the company behind Mega Bloks for $460 million, including debt.

“For the first quarter, revenues were consistent with our expectations as we worked through inventories in a challenging global retail environment,” Mattel Chairman and CEO Bryan Stockton said in a statement. “In addition, we managed costs and streamlined our workforce as part of our initiatives to drive efficiencies throughout the organization. Importantly, we made significant progress against two of our strategic objectives, entering new categories and strengthening our Girls Portfolio. We launched BOOMco., our highly-anticipated entry into the outdoor category, announced the acquisition of MEGA Brands Inc., a leading player in the rapidly-growing construction and arts & crafts categories, and continued the global launch of our newest doll franchise, Ever After High.”

Follow Brian on Facebook and Twitter.

Barbie’s Careers Through The Years

 
 
 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

NASDAQ is Back at 2000 Dot-Com Bubble Level
NASDAQ is Back at 2000 Dot-Com Bubble Level
The Dot-Com force is back at the NASDAQ. It took Silicon Valley 15 years to bring back the NASDAQ to the Dot-Com Bubble Levels. With startup valuations in the billions becoming the norm, Wall Street is following up with driving up the value of public traded tech companies.
 
 
Bill Gates Tops Forbes Billionaires List Again
Bill Gates Tops Forbes Billionaires List Again
Microsoft co-founder Bill Gates is back on top of the Forbes Billionaires list.
 
 
$75,000 Apple Watch revealed
$75,000 Apple Watch revealed
When Apple's designs are not exclusive enough then there are 3rd parties who add gold and diamonds to the iGadget to make them precious. Brikk announced the Lux Watch, a diamond studded version of the Apple Watch.
 
 
Sony will not Sell Off TV And Mobile Spinoffs
Sony will not Sell Off TV And Mobile Spinoffs
Sony President Kazuo Hirai clarified on Wednesday that the company will not immediately sell off the spun out TV and mobile phone business.