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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, Inc. (NASDAQ: JAKK) and Disney have launched the Disney ily 4EVER 18-inch fashion doll line, inspired by popular Disney characters. Designed for ages 6-10, the collection includes five dolls, trendy outfits, and accessory packs, available starting August 15. This line encourages children to express their unique Disney style and follows a growing trend in Disney-themed fashion. Future releases will feature characters like Ariel and Belle. The launch aims to engage the Disney Bounding community, inviting kids to showcase their creativity through their dolls.
Disguise, a division of JAKKS Pacific, has renewed its North American rights for Sesame Street costumes, continuing a partnership that spans over three decades. The renewal allows Disguise to market and distribute new and classic costume lines, including adaptive costumes to support inclusivity. Celebrating its 35th anniversary in 2022, Disguise has solidified its position as a leader in the costume industry, delivering quality products that resonate with families. The Sesame Street line remains available at major retailers globally.
Disguise, a leading global costume company under JAKKS Pacific, has announced a multi-year contract extension for Pokémon rights in North America, Australia, and New Zealand starting in 2022. The company will continue to design, market, and distribute costumes for popular Pokémon characters like Pikachu and Charmander. Launched in 2019, the Pokémon costume line remains a top seller, with new styles planned for 2022, coinciding with Pokémon's 25th anniversary. This partnership emphasizes Disguise's commitment to quality and innovation in the costume market.
JAKKS Pacific reported Q2 2021 net sales of $112.4 million, representing a 43% increase year-over-year. Gross margin improved to 28.4%, the highest for Q2 since 2016. A net loss attributed to common stockholders was $15.4 million, an improvement from the previous year's loss of $23.6 million. Adjusted EBITDA was $5.0 million, up from negative $4.6 million in Q2 2020. The company refinanced its long-term debt, extending maturity to 2027 and lowering interest rates. Despite challenges, management maintains optimism for holiday sales growth.
JAKKS Pacific, Inc. (NASDAQ:JAKK) will release its second quarter 2021 financial results on July 28, 2021, after market close. Following this, a teleconference and webcast at 5:00 p.m. ET will discuss the results, future plans, and prospects. Participants can join by calling specified numbers or via the company’s investor website. A replay of the call will be available for seven days. JAKKS is a prominent designer and manufacturer of toys and consumer products, with a range of proprietary brands and a commitment to philanthropy through JAKKS Cares.
JAKKS Pacific, Inc. (NASDAQ: JAKK) launches The Heart Supply, a new skateboarding brand led by Johnny Schillereff, founder of Element Skateboards. This collection features high-quality skateboards tested by Olympians and aims to make skateboarding accessible and affordable. The initial release includes a limited edition, with proceeds supporting children's access to skateboarding. JAKKS Pacific is excited to partner with The Heart Supply to promote inclusivity in skateboarding, while the brand plans to open a philanthropic skate-park in Mexico and donate skateboards globally.
JAKKS Pacific (NASDAQ: JAKK) announced a multi-year contract extension with BLACK+DECKER, starting in 2021, to design and sell a range of toy workbenches and kitchen products across North America. This partnership extends over 16 years, reflecting the increasing demand for roleplay toys, particularly during home-based activities. Popular products include the Tool Belt Set and Power Tool Workshop. JAKKS products are available at major retailers like Target and Walmart.
JAKKS Pacific announced the successful refinancing of its term loan facility, securing a new $99 million term loan from Benefit Street Partners and a $67.5 million revolving credit facility from JP Morgan Chase. The new term loan, maturing in June 2027, replaces a $128.9 million loan with a 10.5% interest rate, projected to reduce interest expenses by over $5 million annually. The refinancing strengthens the company’s liquidity and financial flexibility, enabling investments in growth and margin improvement.
Disguise, a leader in costume design, has formed a global partnership with Funko to create and distribute Pop! Masks™ starting in 2021 across multiple regions including North America and Europe. The initial collection will feature designs based on popular characters from Warner Bros. and Sony Pictures. Funko aims to enhance fan engagement by offering collectible masks that can be worn or displayed. The line is set to expand in 2022 with over 30 new styles, and pre-orders are already available on Amazon and Funko's website.
JAKKS Pacific (NASDAQ: JAKK) has partnered with Moonbug Entertainment to become the official North American seasonal toy and costume partner for CoComelon, starting in 2021. Disguise, JAKKS' costume division, will create costumes and accessories inspired by the popular children's show, which boasts over 100 million YouTube subscribers. JAKKS will also market and sell CoComelon toy lines, available in 2022. This collaboration aims to enhance children's play experiences, leveraging the show's success across streaming platforms.
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