Monster High collection eating into 'iconic' Barbie doll sales

Toy maker giant Mattel has revealed that sales of their Barbie dolls have tumbled 12 percent in the second quarter because of its fast-growing Monster High franchise.

The shares of the iconic doll fell 6.8 percent recently after the toy maker shocked Wall Street with a worse-than-expected profit plunge of 24 percent, the New York Post reported.

3-year-old toy collection 'Monster High' - their teenage dolls have descended from the characters such as Dracula and Frankenstein's monster - have notched up a 23 percent sales increase.

Mattel Chief Executive Bryan Stockton hinted around the idea that Barbie was losing her popularity; he confessed that the Barbie brand is being modestly impacted by their new franchises.