Melia Robinson/Business Insider Mattel posted a loss of 32 cents a share almost double the 17 cents estimated by Wall Street analysts.
Sales fell by 15.4 percent in the quarter ended March 31, to $735.6 million, missing estimates of $801.4 million according to Reuters.
Although sales of Mattel's most well-known brands, Barbie and Fisher-Price fell 13% and 9% during the quarter, UBS expects these brands to give Mattel a bump in the second quarter.
UBS says that points of sale for Barbie are up high single digits, Hot Wheels up around high single digits and Fisher-Price up mid-single digits.
Lead analyst Arpine Kocharyan explains: These are surprisingly strong numbers, in our view - hard to reconcile with overall industry trends at retail, and with double-digit decline in shipment, potentially setting up for nice ship-in bump in Q2 under core brands, outside of entertainment slate-tied segments.