Mattel profit takes hit from sales slowdown, acquisition costs

Mattel in Q1 saw its profit plummet 53% due to a expenses tied to its acquisition of HIT Entertainment and a slowdown in sales for Barbie, Hot Wheels and American Girl. However, Mattel said it was still hopeful about the year considering the first three months of the are typically soft for toys. “We continue to have momentum in many key areas and we’re focused on improving our performance in a couple of areas like North America and Fisher-Price," said Mattel chief executive Bryan G. Stockton.

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