Mattel’s shares slumped 31% after weak December sales, which the toymaker behind Barbie blamed on US tariffs.
Most of its products are made overseas, and retailers delayed orders in the face of uncertainty. Exports of French wine to the US also fell because of protectionism, bad news for an industry already struggling with a glut and a collapse in Chinese demand.
But the declines may also reflect a wider slowdown in US consumer spending: Sales of furniture, clothing, and other items, especially those most exposed to tariffs, saw a fall, and December’s sales growth was below November’s. The US job market has also seen only modest growth, raising concerns of a labor market slowdown.