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The Ratings Game: Mattel hangs on to buy ratings despite steep first-quarter sales slide

Mattel
Mattel, which has Barbie among the toys in its lineup, said it has gotten past the retail overhang that hurt first-quarter results.

Analysts at B. Riley and Monness Crespi Hardt continue to rate Mattel Inc. shares buy despite a 15% slide in first-quarter sales.

Mattel MAT, -11.44% whose toy lines include Barbie, Hot Wheels and Fisher-Price, said the sales decline was mostly due to a retail inventory overhang that was largely concentrated in North America and Europe. The inventory overhang led to reduced retail reorders.

“We are confident we have worked through most of our inventory issues and we should begin to see the benefits of scale in our cost savings programs as we move forward,” said Mattel’s new Chief Executive Margaret Georgiadis on the late-Thursday earnings call, according to a FactSet transcript.

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