Why Mattel Stock Fell Today
Shares of Mattel (NASDAQ: MAT) have fallen today, down by 6% as of 2:30 p.m. EDT, after toymaking peer Hasbro (NASDAQ: HAS) reported disappointing third-quarter earnings results. Mattel faces many of the same challenges that Hasbro does.
In no uncertain terms, Hasbro heavily blamed its miss on President Trump's ongoing trade war with China. "However, as we've communicated, the threat and enactment of tariffs reduced revenues in the third quarter and increased expenses to deliver product to retail," Hasbro CEO Brian Goldner said in a statement. On the related conference call with analysts, Goldner said the tariff uncertainties created "a very choppy environment" that impacted "retailer order patterns."
Image source: Mattel.
Source Fool.com
