Barbie sales jumped in the U.S. as the doll’s 50th anniversary received a host of attention, but cautious orders from retailers and pressure on international sales from the stronger dollar led to a wider-than-expected loss for the toymaker’s first quarter.
Since Mattel does not offer its own forecasts, the results came as a relief to some investors who were expecting the worst after the weakest holiday season in decades. Its shares rose 11 percent.
For the quarter ended March 31 — the least significant season for toymakers — Mattel’s loss totaled $51 million, or 14 cents per share. That compares with a loss of $46.6 million, or 13 cents per share, a year ago. Analysts polled by Thomson Reuters, on average, expected a penny smaller loss. Revenue at the largest U.S. toymaker fell 15 percent to $785.6 million.
