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EL SEGUNDO, Calif. – Shares of Mattel dropped more than 12 percent Friday after the world’s largest toy maker said sales of key toys like Barbie and Fisher-Price preschool items dropped in its fourth quarter.

Fisher-Price sales declined 13 percent for the quarter and were down 6 percent for the year.

“We are obviously not pleased with the results from the fourth quarter,” said Geoff Walker, executive vice president of Fisher-Price Global Brands in East Aurora.

Though the company’s performance in the U.S. market was soft, Walker said, Fisher-Price saw growth in international markets, which it considers its greatest opportunity for future success.

“In 2014, we’ll be sharpening our marketing efforts across the board and remain laser-focused on product innovation that ultimately drives consumer pick-up,” Walker said.