Mattel's finance chief Paul Ruh said timing shifts in retailer ordering patterns impacted its U.S. business, indicating that retailers such as Walmart, Target and Amazon.com were limiting building up inventory going into the key holiday season to minimize exposure to higher tariff rates.

Mattel reported second-quarter net sales of $1.019 billion, down 6% year-over-year and below the Street estimate of $1.068 billion, according to data from Benzinga Pro. The company posted earnings of 19 cents per share,

Toymaker Mattel Inc. MAT-Q cut its annual forecast, reinstating it after two months, and posted a sharp drop in second-quarter revenue on Wednesday, as weak Barbie sales in North America and global trade uncertainties weighed on demand.