Mattel is struggling to sell Barbies

Core Insights - Mattel's dolls category revenue declined by 19% year-over-year, totaling $335 million in the second quarter [1][2] - The overall net revenue for Mattel decreased by 6% compared to the previous year, amounting to $1.02 billion, with a net income of $53 million, down $4 million from last year [8] - Despite the decline in doll sales, other product categories, such as vehicles led by Hot Wheels, experienced a 10% increase in sales, reaching $407 million [2] Sales Performance - The decline in doll sales was attributed to fewer new Barbie product launches and lower retailer promotional support [2] - The company anticipates an improvement in doll sales in the second half of the year due to new product innovations and partnerships [3][8] Pricing Strategy - In response to tariffs, Mattel announced a price increase for its toys, including Barbies, which took effect in the latest quarter [9] - Approximately 40% to 50% of Mattel's products in the US will continue to be priced below $20, even after the price adjustments [10] Stock Performance - Following the earnings report, Mattel's stock price fell nearly 5% in after-hours trading, although it has risen about 17% over the past year [9]