The Mattel company logo is pictured during the inauguration of the expansion of the Montoi plant, in Escobedo, Mexico March 15, 2022.
Daniel Becerril | Reuters
Barbie-maker Mattel posted fourth-quarter results after market close on Wednesday that came in well below Wall Street’s expectations after holiday sales failed to offset slowing consumer demand.
CFO Anthony DiSilvestro attributed the low performance to fewer orders from retailers and higher costs to manage inventory.
The company had hoped that the “all-important holiday season” would be a potential buoy for sales as demand has slowed amid inflation.
“Our fourth quarter results were below our expectations, as the macro-economic…