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The Ratings Game: Mattel’s earnings miss has some analysts questioning the company’s turnaround

Reuters

Mattel said it’s happy about the progress at brands like Barbie even though fourth-quarter earnings missed.

The holiday season toy story doesn’t have a happy ending.

Mattel Inc. MAT, -17.65% shares are down 14% in Thursday trading after the company announced fourth-quarter results late Wednesday that missed both earnings and revenue estimates. Company executives said a category slowdown and increased foreign exchange headwinds hurt results.

“The key holiday periods saw a significant decline in industry sales growth and while the trend of the consumer coming out later isn’t surprising, the pattern this year was much more dramatic,” said Mattel Chief Executive Christopher Sinclair on the conference call, according to the FactSet transcript.

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