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Jakks Pacific Inc. (NASDAQ: JAKK) is a premier designer, manufacturer, and marketer of a broad range of consumer products, with a primary focus on toys and children's entertainment merchandise. Based in Santa Monica, California, Jakks Pacific serves customers globally, delivering a diverse portfolio of products that include action figures, dolls, dress-up costumes, electronics, plush toys, seasonal items, and more.
The company holds licenses for some of the most iconic brands and characters from leading entertainment giants such as Disney, Nickelodeon, Pokémon, Warner Bros., and Hello Kitty. Jakks Pacific also operates several proprietary brands like Creative Designs International™, Road Champs®, Funnoodle®, Jakks Pets™, Plug It In & Play TV Games™, Kids Only!™, Tollytots®, and Disguise™.
In the latest financial results, Jakks Pacific reported a third consecutive annual increase in gross profit dollars, reflecting a robust financial standing. Despite a slight decline in net sales for the fourth quarter of 2023, the company saw a 1% increase in the Toys/Consumer Products segment globally. Jakks also successfully reduced its inventory by 35%, showcasing efficient inventory management. The company has zero total debt as of December 31, 2023, a significant improvement from $67.2 million the previous year.
Recent highlights include launching a new line of The Simpsons toys, which includes action figures, plush toys, and playsets. This launch targets fans of the long-running animated series, enhancing Jakks' reputation for tapping into beloved franchises.
Furthermore, Jakks Pacific has announced a partnership with Dreamworks and Dav Pilkey for a new Dog Man toy line, scheduled to coincide with the release of the Dog Man animated feature film in early 2025. This collaboration aims to capture the vibrant and loyal fanbase of the Dog Man book series.
Jakks Pacific continues to innovate and expand its product lines, ensuring it remains a key player in the competitive toy industry. Their ongoing projects and strategic partnerships are designed to solidify their market position and drive long-term growth.
JAKKS Pacific announces the fall release of new Nintendo-licensed products for the holiday season. The lineup includes the Super Mario Course Complete Playset ($21.99), Legend of Zelda Link action figure ($10.99), Metroid Prime Samus figure ($10.99), and the Mario Kart Mini Anti-Gravity R/C Racer ($44.99). The company also announces a multi-year extension of its global licensing agreement with Nintendo of America, continuing their decade-long partnership in developing Nintendo-themed toys and consumer products.
JAKKS Pacific reported Q3 2024 financial results with net sales of $321.6 million, up 4% year-over-year. Toys/Consumer Products sales increased 7% to $264.3 million, while Costumes sales decreased 10% to $57.3 million. Operating income rose 9% to $68.1 million, with net income reaching $52.3 million or $4.64 per diluted share. Gross margin was 33.8%, down 70 basis points from Q3 2023. The company showed strong performance in Dolls, Role Play/Dress-Up (+5.5%), Action Play & Collectibles (+5.4%), and Outdoor/Seasonal Toys (+42.4%), despite weakness in the Costumes segment.
JAKKS Pacific, Inc. (NASDAQ: JAKK) has announced its upcoming third quarter 2024 financial results release and earnings call. The company will disclose its financial performance on Wednesday, October 30, 2024, after the stock market closes. Following the release, JAKKS Pacific will host a teleconference and webcast at 5:00 p.m. ET / 2:00 p.m. PT on the same day to discuss the results and potentially address future plans and prospects.
Analysts, investors, and media are invited to participate in the call. A live webcast will be available on the company's website at www.jakks.com/investors. For phone access, participants are encouraged to register in advance using the provided link and dial in ten minutes before the scheduled start time to avoid delays. A replay of the webcast will be accessible for a time on the company's investor relations page.
Disguise, Inc., a leading costume designer and manufacturer, has secured rights to create and distribute costumes and accessories for Paramount Animation and Hasbro's TRANSFORMERS ONE in North America, LATAM, and select EMEA channels. The film, released on September 20, 2024, explores the origin story of OPTIMUS PRIME and MEGATRON. Disguise's new collection features beloved characters like Optimus Prime and Bumblebee, along with new faces from the TRANSFORMERS universe.
Tara Cortner, President and GM of Disguise, Inc., expressed excitement about supporting the origin story behind their top-selling TRANSFORMERS costumes. The company anticipates significant retail success following the successful launch of TRANSFORMERS ONE. The costumes and accessories are now available in stores and online across North America, LATAM, and some EMEA channels, just in time for the fall season.
Disguise, Inc., a division of JAKKS Pacific, Inc. (NASDAQ:JAKK), has secured a new multi-year agreement with Innersloth for global costume rights for the popular game Among Us. The deal, facilitated by Dual Wield Studio, will see Disguise designing, marketing, manufacturing, and distributing costumes and accessories worldwide, with the first products set to launch in Fall 2025.
Among Us, a social deduction game set in space, gained immense popularity in 2020, reaching a peak where 7% of the global population was playing. An animated show based on the game is currently in development at CBS Studios, featuring voices of Elijah Wood, Randall Park, and Yvette Nicole Brown.
JAKKS Pacific (NASDAQ: JAKK) announces two of its products featured on Walmart's Top Toys list for 2024. The Sonic the Hedgehog 3 - Ultimate Talking Sonic ($39.83) and Wild Manes Sugar Crush Carnival Set ($21.97) will be available this fall. The Sonic toy stands 12 inches tall with 15 articulation points, 30+ phrases, and light-up features. The Carnival Set includes Candi, an articulated horse, with a wheeled cart and accessories.
Jon Trent, Executive VP of Sales at JAKKS Pacific, expressed honor at the recognition, highlighting the company's commitment to innovative, high-quality toys. This acknowledgment underscores the strength of JAKKS Pacific's product line and team efforts.
Disguise, Inc., a division of JAKKS Pacific, Inc. (NASDAQ: JAKK), has extended its global rights to create costumes based on Netflix's Stranger Things and Bridgerton for fall 2024. The Stranger Things collection includes costumes for all ages, featuring characters like Eleven, Robin, Steve, Eddie Munson, and Chrissy. The Bridgerton line will introduce adult costumes inspired by Penelope and Colin Bridgerton.
Tara Cortner, President and GM of Disguise, expressed excitement about bringing the same passion and attention to detail from their successful Stranger Things costumes to the Bridgerton line. Disguise, known for its innovative and high-quality products, continues to set industry standards with its global distribution network. Fans can expect to find these costumes and accessories in stores and online this fall.
JAKKS Pacific, Inc. (NASDAQ: JAKK) reported Q2 2024 financial results with net sales of $148.6 million, down 11.0% year-over-year. Gross margin improved to 32.0%, up 130 basis points vs. Q2 2023. Net income was $5.3 million or $0.47 per diluted share. First-half net sales decreased 13.0% to $238.7 million.
Key highlights:
- Toys/Consumer Products net sales: $104.6 million (-11.3% YoY)
- Costumes net sales: $44.0 million (-10.1% YoY)
- Operating income: $7.6 million (5.1% of net sales)
- Adjusted EBITDA: $12.3 million
The company cited a lack of new content-related product launches as the primary reason for the sales decline. JAKKS is preparing for new product launches in H2 2024, including items supporting Moana 2 and Sonic the Hedgehog™ 3.
JAKKS Pacific (NASDAQ: JAKK) has announced the launch of a new line of branded lifestyle products for Fall 2024. The collection includes Element, Roxy, and Quiksilver skateboards, helmets, and knee pads, as well as Juicy Couture & Roxy roller skates. This initiative is part of JAKKS' strategy to expand into new categories and target Millennials and Gen Z consumers.
In 2025, JAKKS plans to expand the line with branded volleyballs, floaties, beach accessories, and new toys featuring brands like Roxy, Forever 21, Juicy Couture, Prince, and Sports Illustrated. The partnership with Authentic, owner of these brands, aims to combine JAKKS' design and manufacturing capabilities with Authentic's market presence. The new product lines will be available at select retailers, including Academy Sports, in August 2024.
JAKKS Pacific (NASDAQ: JAKK) will release its second quarter 2024 financial results on July 31, 2024, after the market closes. The company will host a teleconference and webcast at 5:00 p.m. ET / 2:00 p.m. PT on the same day to discuss the financial results and may also talk about future plans. Analysts, investors, and media can listen to the webcast via the 'Investor Relations' page on JAKKS' website. The teleconference details will be provided upon registration. A replay of the webcast will be available for a time.
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