Shares of Mattel (NASDAQ: MAT) were moving lower today after the toy maker badly missed estimates in its fourth-quarter earnings report, showing its turnaround continues to drag on without the desired effect.

As of 11:55 a.m. ET, the stock was down 10%.

Revenue in the quarter fell 22%, or 19% in constant currency, to $1.4 billion, well below estimates at $1.68 billion. Macroeconomic headwinds, difficult comparisons, and elevated inventory levels all led to the weak performance.

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Source Fool.com