Toymaker Mattel warns of weak holiday sales



Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

NEW YORK (AP) — Toymaker Mattel Inc. is warning that its holiday sales are being hurt by the struggles of some of its key brands and by retailers tightening their inventories.

The outlook, made in a regulatory filing Monday, comes two weeks before Christmas and marks the latest in a string of challenges for the nation's largest toy retailer.

Mattel's brands include Barbie, Hot Wheels and Fisher-Price. It says it expects its gross sales for the full year to decline in the at least mid-to-high single percentage range compared to last year.

The company based in El Segundo, California, has struggled with children's increasing penchant toward technology.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast