Mattel’s (MAT) first quarter results dipped on costs associated with its acquisition of HIT Entertainment, but the company’s results also revealed weakness in the U.S. That domestic slowdown helps explain why the toymaker’s shares are down 8.2% this morning.
The company reported EPS of 2 cents, versus expectations for 7 cents.
In North America, gross sales fell 9%. Gross sales rose 7% outside of North America.
Some of the company’s top brands appeared to slump: worldwide gross sales fell 6% for Barbie, 5% for Hot Wheels and were flat for Fisher-Price.
Shares of competitor Hasbro (HAS) also fell 2.7%.
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