Mattel Struggles As Barbie Gets Dumped

Investors have been waiting for industry-leading toymaker Mattel, Inc. (NASDAQ: MAT) to pull Barbie and friends out of an ongoing slump. The stock had already fallen 23% this year, after the company disappointed investors with less-than-stellar post-holiday results, and then announcing that it would cut its dividend to fuel a turnaround.

After detailing plans to get the company back on track last month, investors had hoped for signs that the carnage was over and Barbie was back on the road to recovery. When the company reported its financial results for the recently completed quarter, investors' hopes were dashed and the stock fell another 7%. What is going on?

Can the new diverse line of Barbie and Ken dolls revive Mattel's languishing sales? Image source: Mattel.

Source: Fool.com