Mattel delays filing of 2023 annual report

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February 29, 2024 4:57 PM EST

The Mattel booth on the convention floor at Comic-Con International in San Diego, California, U.S., July 21, 2022. REUTERS/Bing Guan/File Photo

(Reuters) -Toymaker Mattel said on Thursday it was unable to file its 2023 annual report within the prescribed time after it identified certain deficiencies, which represented "material weakness" in its internal control over financial reporting.

The deficiencies were related to the information technology controls and are not expected to materially impact the financial information to be reported in the 2023 annual report, it added.

Mattel's shares were down about 3% in extended trading.

The company said it was working to file the annual report "no later" than March 15.

Mattel reported its fourth-quarter and full-year 2023 financial results on Feb. 7.

Earlier this month, the company came under pressure from activist investor Barington Capital, which urged Mattel to pursue strategic options for its Fisher-Price and American Girl brands and separate the role of CEO from the chairman

(Reporting by Juveria Tabassum; Editing by Shilpi Majumdar)


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