- Argus loses faith Mattel (MAT -1.1%) can recover revenue as it downgrades the toy stock to Hold from Buy.
- Analyst John Staszak thinks a recovery will take several quarters.
- Mattel reported sales drop for the Mattel girls/boys, Fisher Price, American Girl and construction/arts/crafts segments in Q1.
- Shares of Mattel are down 28.7% over the last 52 weeks.