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25 Oct 2023
Olivia Rodrigo

Reuters

Mattel maintains sales forecast despite 'Barbie' boom, shares slip

The company said its full-year net sales would be "comparable" to last year's figures of $5.44 billion, but raised its earnings forecast. "While the movie will have likely cast some glow on Barbie sales in Q4, the company's decision to maintain (sales) guidance suggests that it expects some near-term headwinds ahead," Zak Stambor Senior Analyst, Insider Intelligence said. The "Barbie" movie in July set records as the biggest opening of the year and the company is banking on the hype around it to help overcome what is expected to be a softer shopping season as sticky inflation crimps household budgets.

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