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Mattel shares plunge on 2019 forecast

Reuters

Feb 15 () - Mattel Inc said on Friday 2019 gross sales were expected to be flat, with weakness in Thomas & Friends and American Girl offseting comparatively stronger sales of its Barbie and Hot Wheels brands, sending the toymaker's shares down 14 percent.

The company also forecast a drop in first-quarter gross sales.

The news comes a week after Mattel posted a surprise fourth-quarter profit, as it benefited from a makeover of its Barbie doll.

Shares of the company fell to $14.45 in late trade.


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