Mattel Inc missed Wall Street’s profit and sales estimates for the fourth quarter on weak demand for Barbie dolls and movie-themed toys in the holiday season.

The news from the world’s largest toy company came just days after rival Hasbro Inc warned its fourth-quarter revenue could fall far short of analysts’ estimates. Hasbro blamed weaker-than-expected demand for playthings in what is typically the industry’s biggest-selling season of the year.

Mattel, also home to Hot Wheels cars and Fisher-Price toys, said its net income had fallen to $306.5 million, or 87 cents a share, from $370.6 million, or $1.07 a share, a year earlier. Excluding a litigation charge, the company earned $1.12 a share. Net sales rose 5 per cent to $2.26 billion, but fell short of the average estimates of $2.29 billion. – (Reuters)