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Mattel shares slump after sales miss estimates

Mattel Inc's quarterly sales missed analysts' estimates on Thursday as higher sales of Cars 3 toys failed to offset weak demand for the company's main brands such as Barbie and Fisher-Price in the United States.

Sales in the company's girls and boys brands unit, which houses its key brands such as Barbie and Hot Wheels, rose 10 percent in the second quarter ended June 30, driven by the release of its Cars 3 toys.

Mattel released its Cars 3 toys, miniature models of Lightning McQueen and...