Barbie hasn’t rebounded since Valentine split with Ken

Sales of Barbie — which accounted for one-third of Mattel’s nearly $5 billion revenue last year — fell 15 pc domestically and 6 pc internationally. In 12 of the last 13 quarters, Barbie sales have declined or been flat. ‘‘The first quarter of the year was not a good quarter,’’ Chief Executive Robert Eckert told investors and analysts during a conference call. ‘‘While I’m not pleased, I’m not surprised.’’

Barbie’s widely publicized February breakup with Ken — a male doll that has served as Barbie’s boyfriend for more than 40 years — didn’t boost sales of the plastic beauty.

Still, Barbie remains the world’s best-selling doll, although it has been losing market share to MGA Entertainment’s Bratz toys, which appeal to older girls. Mindful of the Bratz competition, Eckert rolled out similar dolls — called Flavas — only to withdraw the line in last year’s fourth quarter after they failed to resonate with young consumers. Since then, Eckert has outlined a new strategy that focuses on boosting Barbie sales, and Wall Street has greeted the plan with guarded optimism.

On Tuesday, Mattel shares hit a 52-week low of $17.40 before closing down 32 cents at $18.33 on the New York Stock Exchange. Shares have lost 10 percent in the past year. Analysts at Oppenheimer & Co. reiterated their ‘‘buy’’ rating on Mattel’s stock, in part because of the company’s improved cash flow.

During the first quarter, Mattel began introducing the first of eight new ‘‘story-driven’’ Barbies with loads of accessories and supported by DVDs and magazines, as well as a new Cali Girl Barbie that sells for about $5, far less than other similar dolls. Even when the new Barbie merchandise is fully rolled out, Eckert conceded Tuesday, sales might not rebound immediately.

‘‘Realistically,’’ he told analysts, ‘‘I think we’ll make a lot of progress this year but it’s probably 2005 before we can draw the ultimate conclusion of the success’’ of the new Barbie products, he said.

Mattel’s other toy brands posted gains. Sales of Hot Wheels and other vehicles rose 1 pc; Fisher-Price’s were up 13 per cent and American Girl’s sales increased 17 per cent.

—(LAT-WP)