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Hasbro and Mattel, the largest US toymakers, have lowered their sales forecasts for the upcoming holiday shopping season, expressing concerns about consumer spending and the impact of inflation, high borrowing costs, and student loan payments. Mattel's Barbie division saw a 16% annual increase in sales, contributing to a total revenue of $605.1 million. The toy industry has been in a decline, with Mattel shares down about 60% over the last decade and Hasbro shares up 3%. Mattel's CEO aims to leverage its brands and intellectual property to build film franchises.

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