Mattel shares tumble after holiday quarter fails to boost sagging sales
Publishing timestamp: 2023-02-08 17:27:52
Summary
Mattel's fourth quarter results were below expectations due to lower orders from retailers and higher costs to manage inventory. Shares of Mattel fell 10% in after-hours trading. Hasbro also cut 15% of its workforce and warned of weak holiday performance. Mattel is attempting to diversify its revenue streams by using its intellectual property for non-manufacturing ventures, such as producing movies based on its toy brands.
Sentiment: NEGATIVE
Keywords: margot robbie, entertainment, retail industry, warner bros discovery inc, business, business news, ryan gosling, mattel inc, hasbro inc, earnings, breaking news: earnings,
Source: https://www.cnbc.com/2023/02/08/mattel-mat-earnings-q4-2022.html