Mattel Inc suffered a loss in the first quarter as the maker of toys reported that sales had fallen, weighed down by its Barbie.

CEO Bryan Stockton said during the first quarter revenues had been consistent with expectations, while working through inventories in a retail environment that is challenging on a global level.

The toy industry of late has been challenged due to increased interest in tablets and smartphones, which has lessened the appeal of many traditional toys. Mattel has during this time generally been able to post higher sales.

Results lately have been bolstered by the doll line Monster High, which has the characters that are children of famous past monsters with names such as Draculaura. Another strong performer has been the American Girl line.

Overall, Mattel however reported it had lost $11.2 million or approximately 3 cents per share compared to last year during the same reporting period a $38.5 million profit equal to 11 cents per share.

Net sales at the toymaker were down by 5% to end the quarter at $946 million. Analysts expected the toymaker to report profits of 9 cents per share on revenue of close to $953 million.

The company’s gross margin was narrowed from 54.2% to 50.9%. Sales in North America dropped by 2%, while the top line dropped by 7% internationally.

Sales of Barbie were down by 14%, while sales of Wheels, which includes Tyco, Matchbox and Hot Wheels, were off by just 2%. Other girls’ revenue was up 4%, thanks primarily to the Ever After High and Disney Princess, which was offset partially by Monster High.

Fischer-Prices’ preschool line saw its sales slip by 6% while American Girl sales were up by over 5%.

As sales of hand held electronics such as the tablet and smartphone continue to increase, the toy industry could suffer even more going forward due to consumers deciding what is more important or cost effective for them while they continue to struggle through the slowly improving economy and jobs market.

Just in time for this year’s grilling season, beef prices have risen to their highest point in 27 years. This has taken consumer and restaurants by surprise with relief likely not to happen anytime in the near future.

As cattle herds dwindle and the export demand increases from countries such as Japan and China, the average cost of retail fresh beef has climbed to $5.28 per pound as of February. That price was nearly 25 cents higher than in January and the highest the country has seen since 1987.

Everything being produced is consumed, said one analyst and prices likely will remain high for the next few years as producers of cattle start rebuilding their herds amidst questions about whether the Midwest and Southwest will have enough rain to help pastures replenish.

At the same time, trips to the local grocery store could take longer as shoppers search out the best cuts of beef that will not break the bank.

Restaurant owners must also deal with high prices. Menu prices are being increased regularly. Since the start of February, some restaurants have increased their prices by 5% a month. Some are trying to cut other costs so they do not have to pass along the additional cost of beef to their patrons.

Some restaurants are adjusting the portions of steak they serve making them look the same size but thinner to help offset the increasing price.

Some restaurants now are serving sirloin in 6-ounce portions compared to 8 or even 10-ounce portions that were previously served.

Fast food restaurants have trimmed cost through reducing menu items and offering other types of meats, including burgers made from turkey meat. Chain restaurants contain buying in volume, which means they usually receive better prices.

For one group, the higher prices have come as welcome news. Ranchers especially in Texas have for many years struggled amidst high feed prices and drought.

Despite the recent numbers showing the cattle herds are the smallest in the nation since 1951, prices for beef have yet to decline along with the herd size, as demand remains strong.

Beef is not the only type of meat with prices that are higher. Pork has increased and largely due to a virus that is killing millions of piglets.