Mattel says retailers skittish about stocking up on toys, but sticks with outlook

Toy maker Mattel Inc. on Wednesday reported better-than-expected first-quarter results and held to its full-year outlook — despite weaker demand for action figures, games and Barbie dolls.

The results arrived ahead of the release of the “Barbie” movie, set to hit theaters in July. Executives for Mattel MAT said that retailers, who have bought fewer toys as they try to clean out their own stockpiles of unwanted items, should have those inventories sorted out by the end of first half of the year.

Mattel…