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Mattel Cuts Forecast As Barbie Underperforms
Mattel lowered full-year guidance while Hot Wheels heads for a ninth record year. Barbie has been asked to move.
Based on real news: As Barbie stumbles, Mattel cuts forecast ahead of the holidays (Retail Dive)
EL SEGUNDO, Calif.—Mattel lowered its full-year net sales growth forecast to 1% to 4% from 3% to 6%, Retail Dive reported Nov. 6, as Barbie weighed on the doll category. Hot Wheels is on track for its ninth consecutive record year, approaching $2 billion in gross billings.
A Hot Wheels car declined to comment while in motion.
A fictional Barbie, reached at her Dreamhouse, said she had seen the company's campaign called "Barbie is Moving" and had already packed. A Hot Wheels car declined to comment while in motion.
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Riffing on: As Barbie stumbles, Mattel cuts forecast ahead of the holidays, Retail Dive