Mattel Cuts Annual Forecasts on Sluggish Demand
Mattel lowered its annual sales and profit forecasts as the toymaker faces sluggish holiday demand and rising costs. Shares fell as new CEO Roger Lynch navigates weaker sales for Barbie and Fisher-Price.
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MATTEL INC cut its annual sales and profit forecasts on Thursday evening, raising pressure on new CEO Roger Lynch to revive demand. The toy maker faces sluggish holiday sales as inflation in the United States and higher raw material costs from Iran weigh on consumer spending.
