MATTEL SAYS HOLIDAY SEASON LIKELY TO BE DISAPPOINTING
Struggling to stay afloat, Mattel released updated full-year and fourthquarter guidance, anticipating a disappointing holiday season. The toy maker predicts “gross margin deterioration” during what is typically the biggest shopping season of the year. Mattel said it expects its fourth-quarter operating income margin to be significantly lower year over year and anticipates 2017 full-year gross sales will decline by the mid-to-high single digits compared to 2016.