Toy sales plummet

SHARES of slumping US toymaker Mattel tumbled after it reported sharply lower thirdquarter sales as the Toys “R” Us bankruptcy added to its growing list of woes.

Mattel suffered sales declines in virtually every important product line, including Barbie, the Fisher-Price educational brand and American Girl, prompting it to suspend its dividend and announce additional cost cuts. Shares finished down 8.9 per cent at $14.