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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.
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.
Disguise, the costume division of JAKKS Pacific (NASDAQ: JAKK), has entered a multi-year licensing agreement with Aniplex of America for 'Demon Slayer: Kimetsu no Yaiba' in several regions including North America, Australia, New Zealand, LATAM, Ireland, and the UK. This partnership allows Disguise to design, develop, and manufacture costume accessories inspired by the popular anime series, with products set to launch in 2025.
'Demon Slayer' is a highly acclaimed anime known for its compelling story, well-developed characters, and stunning animation. The series has a strong fan base and significant market appeal, which is expected to drive sales for Disguise's new product line.
Disguise has a 37-year history in the costume industry and has grown substantially in both domestic and international markets. The new 'Demon Slayer' costume accessories will be available in retail and online stores in 2025.
JAKKS Pacific and its costume division, Disguise, have partnered with Dav Pilkey to create toys and costumes based on the Dog Man graphic novel series and the upcoming Dog Man movie from DreamWorks and Universal Pictures. This partnership covers North America, the U.K., and Australia, with product launches planned for early 2025, aligning with the film's release in January 2025. JAKKS will offer plush toys, action figures, playsets, and costumes. The Dog Man series has sold over 60 million copies in 47 languages, with the latest book, Dog Man: The Scarlet Shedder, topping bestseller lists globally.
Disguise, Inc., a division of JAKKS Pacific, announced an extension of their licensing agreement with Moonbug Entertainment for CoComelon and Blippi costumes in North America. The new collection includes costumes for toddlers and adults, available online and in stores, with CoComelon being the number one preschool channel on YouTube and Blippi a global sensation with one billion monthly views.
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