News summary: Mattel 2nd quarter net income falls

Published on NewsOK Modified: July 17, 2013 at 8:25 am •  Published: July 17, 2013
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EL SEGUNDO, Calif. (AP) — THE NEWS: Mattel said Wednesday that its second-quarter net income fell 24 percent, hurt by weak sales in North America and continued softness in Barbie sales, as well as an asset impairment charge.

THE CONTEXT: Toy industry sales have been in slight decline all year, hurt by cautious consumer spending, a video game industry slump and increased demand for gadgets like smartphones and tablets. Mattel, the largest U.S. toymaker, usually outperforms its rivals, but quarterly results show it is not immune to industry-wide declines.

TOY TALES: Barbie sales slumped for the fourth straight quarter, but American Girl sales rose 14 percent.