Why Mattel Stock Was Slumping Today

Shares of Mattel (NASDAQ: MAT) were falling today after the toy maker reacted poorly to news from Target (NYSE: TGT) that toy sales were sluggish during the holiday season. The holiday season is crucial for toy makers, especially Mattel, which is in the midst of a multiyear restructuring process. Shares of the Barbie maker were down 5.9% as of 11:47 a.m. EST on the news.

Target said that its own comparable sales in toys were flat, though it still gained market share according to the NPD Group. In other words, toy sales seem to have fallen during the holidays, likely due to the shortened shopping season.

Image source: Mattel.

Source Fool.com