Sales Cool For Mattel's Hot Wheels And Barbie

from National Public Radio

Giant toymaker Mattel reported a sharp drop in sales and earnings for the final quarter of 2008. Sales of the company's iconic Hot Wheels race cars slowed more than 20 percent, despite the 99-cent price tag. Barbie sales took a similar plunge. Mattel's only brand with increased sales was the upscale line of American Girl dolls. The company's CEO said his focus this year will be on cutting costs. Mattel already announced plans to lay off 1,000 people.

Broadcast Dates

• Morning Edition, February 3, 2009