Barbie sales continue down for Mattel

SLUMPING sales of Barbie did little to bring a happy holiday to her maker, Mattel Inc.

MATTEL'S fourth-quarter earnings released on Friday gave the first details on what contributed to a weak performance that led to the resignation of its chairman and CEO.

Barbie sales fell 12 per cent, though that wasn't as bad as the third quarter's 21 per cent drop. Fisher-Price sales fell 11 per cent and American Girl slipped 4 per cent. Hot Wheels sales rose 5 per cent.The results for the quarter that ended December 31 are important because they include the holiday season, which is a make-or-break time of year for toy makers.Mattel's fourth-quarter performance fell far short of Wall Street's expectations when the toy maker provided preliminary results Monday, the same time it announced the departure of CEO Bryan Stockton.Board member Christopher A. Sinclair was appointed chairman and interim CEO.Stockton became CEO in January 2012 and then was named chairman a year later. A former Kraft Foods executive, he served as a Mattel's chief operating officer before becoming CEO. Sinclair has served as a Mattel Inc. director since 1996.For the fourth quarter, Mattel posted an adjusted profit of 52 cents per share on revenue of $US1.99 billion ($A2.57 billion). That was below the 83 cents per share on revenue of $US2.07 billion that analysts polled by FactSet predicted.The company's stock dropped $US1.30, or 4.8 per cent, to $US25.60 in premarket trading.

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