Mattel experienced a significant decline in Barbie doll sales, with the dolls category dropping 19% in the latest quarter, resulting in revenue of $335 million. This decline was attributed to fewer new Barbie product launches and decreased promotional support from retailers. Despite challenges in the dolls category, other segments, such as vehicles, saw a sales increase of 10%. The company’s overall net revenue declined by 6% year-on-year, though plans for improving doll sales in the latter half of the year were indicated by the CEO.
In the latest quarter, Mattel's dolls category saw a 19% drop in sales, totaling $335 million, primarily due to fewer new Barbie launches.
CEO Ynon Kreiz stated that Mattel expects doll sales to improve in the second half of the year, aided by new product innovation and partnerships.
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