Weak Barbie sales hit Mattel results

http://www.bbc.co.uk/news/business-34546554

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A fall in the sales of the Barbie doll has hit earnings at the US toymaker Mattel.

Net income at the company fell to $223.8m (£145m) in the three months to September, down from $331.8m a year earlier, while Barbie doll sales fell by 4%.

The stronger dollar also hurt revenue from overseas markets.

The chief executive, Christopher Sinclair, said the results were "broadly in line" with expectations.

The company has been struggling as children increasingly turn to electronic games and tablets. This is the eighth consecutive quarter of declining sales for the 56-year-old Barbie brand.

"We're very encouraged by the progress we are making on reenergizing the company," Mr Sinclair said.

"As we continue our turnaround efforts, we remain comfortable with our full-year outlook."

Nearly half of Mattel's revenue came from international markets last year and Mr Sinclair expects the strong dollar to "continue to be a headwind".