Falling down further in terms of demand for its billion-dollar brands, Fisher-Price and Barbie as well as burdened with ever increasing pressure as the holiday shopping season looms near, Mattel Inc’s (MAT.O) revenue, for the fourth straight quarter, plummeted down.
Barbie’s sales all over the world went down 21 percent in the third quarter that ended Sept. 30, in addition to 16 percent fall by Fisher-Price pre-school toys, was stated by Mattel which triggered a plunge in its shares by as much as 6 percent.
But it seems that the popularity is rapidly declining as fickle-minded minded young girls are more into electronic toys such as watches and tablets and if there were any interest in dolls at all, a preference over dolls based on Walt Disney Co’s (DIS.N) animated movie hit, “Frozen” took hold.
Chief Executive Bryan Stockton stated the clear fact that much work needs to be done as the company enters the fourth quarter.
The third quarter net sales of Mattel, ended Sept. 30 with a 8.4 percent downturn to $2.02 billion. North American and international market sales decreased by 7 percent
Thursday morning, the toy company’s shares were at $29.71, down by 2.7 percent.