Mattel Inc (MAT) - Get Mattel, Inc. Report stock traded down over 8% midday Friday following disappointing second quarter sales and profit that the company partially blamed on slowing sales of its iconic Barbie doll.
Barbie sales fell 5% during the second quarter, marking her third straight quarterly decline even after Mattel launched new Barbies with different body types and a range of skin colors. The tall, petite and curvy Barbies bolstered sales for a bit last year, but they've since fallen.
Mattel had a lot riding on Barbie's success this quarter. Jefferies analyst Stephanie Wissink said "Barbie sales excluding the lapping of a license revenue event in the previous year would have been up about 5%, but were not enough to offset more aggressive declines in [other brands]."
Mattel has started turning to emerging markets, partnering with China's Alibaba (BABA) - Get Alibaba Group Holding Ltd. Report and parenting website Baby Tree to roll out developmental and learning centers for young children.
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