(PARENT HERALD) — Mattel announced that its second-quarter net income fell 24 percent due to a continued decline in Barbie sales and a $14 million write-down on the toy maker’s Polly Pocket line. Its shares dropped more than 5 percent in morning trading, according to USA Today.
This is the fourth consecutive quarter of sales declines for Barbie, and the company’s Monster High and other girl doll lines may be to blame.
Based on teen characters born from famous monsters, Monster High dolls boomed in sales after being introduced in 2010. BMO Capital Markets analyst Gerrick Johnson estimates that Monster High Sales have grown to more than $500 million in its three years of existence, compared to Barbie annual sales at $1.3 billion.
