UPDATE 2-Mattel posts 1st quarterly loss in 5 years as Barbie sales fall

Thu Apr 17, 2014 10:43am EDT
 
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* First-qtr net loss $0.03/share vs $0.11 profit year earlier

* First-qtr adjusted profit $0.01/share vs est. $0.09

* Sales fall 5 pct to $946.2 mln vs est. $952.9 mln

* Shares fall as much as 3 pct (Adds details, analysts comments; updates shares)

By Shailaja Sharma

April 17 (Reuters) - Mattel Inc, the world's largest toymaker, reported its first quarterly net loss in nearly five years due to a double-digit fall in sales of its iconic Barbie dolls, sending the company's shares down as much as 3 percent in early trading.

Mattel's worldwide sales fell 5 percent to $946.2 million in the quarter ended March 31 due to lower demand for its key toy brands.

Sales of Barbie dolls fell 14 percent, while those of Fisher-Price line aimed at infants and preschoolers declined 6 percent.

Mattel has looked to newer products to boost sales as children increasingly opt for electronic games and other gaming activities over traditional toys that are decades old.   Continued...