Mattel shares slid after the toymaker said it missed sales and earnings targets as retailers manoeuvred around US tariffs ahead of the holiday shopping season.
The company behind Barbie dolls and Hot Wheels cars reported a 6 per cent decline in net sales to $1.7bn in the third quarter, missing estimates. Net profit dropped by a quarter to $278mn.
California-based Mattel’s largest market is North America, and President Donald Trump’s tariffs have prompted importers to adjust how and when they bring products into the US. Mattel’s retail customers had shifted their order patterns, the company said.
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