Mattel earnings decline

Mattel Inc., the largest US toymaker, said Friday its fiscal
third-quarter profit declined 3 per cent as the tough economy
dampened demand for key brands like Barbie and Fisher-Price.    Chief
Executive Robert A. Eckert said Friday that revenue 'continues to be
challenging this year' because of the economy, stronger dollar and a
lack of toys tied to hot movies and other entertainment.    A year
ago, results were boosted by toys tied to movies including 'Kung Fu
Panda,' 'Speed Racer' and 'The Dark Knight.'    The company said it
has continued to cut costs to maintain profit margins. In response to
weak sales and cautious ordering by retailers, toy makers have been
cutting costs and slashing inventory in an effort to preserve profit.
   Mattel, which is based in El Segundo, Calif., is in the midst of a
cost-cutting plan designed to save $180 million to $200 million over
two years.    Profit for the quarter ended Sept. 30 declined to
$229.8 million, or 63 cents per share, matching analyst expectations.
A year ago the company earned $238.1 million, or 65 cents per share.
   Revenue declined 8 per cent to $1.79 billion, partly because of
the stronger dollar. Analysts polled by Thomson Reuters, on average,
predicted revenue of $1.78 billion.    Sales of Barbie, which
celebrated her 50th birthday earlier this year, declined 8 per cent
as flat sales domestically were offset by international declines.
Sales of other girl brands dropped 19 per cent as demand for Polly
Pocket and High School Musical toys waned.