LOS ANGELES — Mattel Inc.’s fourth-quarter profit plunged as the struggling toy maker dealt with waning interest in its leggy Barbie doll and other core brands.
The El Segundo company on Friday gave a deeper look at its weak holiday season, which prompted the resignation this week of Chief Executive and Chairman Bryan Stockton.
Barbie, which has suffered more than two years of sales declines, reported an additional 12 percent drop in the fourth quarter. American Girl slid 4 percent. The infant and toddler line Fisher-Price was down 11 percent. One bright spot was Hot Wheels, which was up 5 percent.
Mattel said net income fell 59 percent to $149.9 million, or 44 cents a share, in the three months ending Dec. 31. Sales dropped 6 percent to $2 billion, the fifth consecutive quarter of declines.
For the year, Mattel reported a profit of $498.9 million, or $1.45 a share, down 45 percent from $903.9 million, or $2.58 a share, in 2013. Sales dropped 7 percent to $6 billion.
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