Welcome to our dedicated page for Jakks Pacific news (Ticker: JAKK), a resource for investors and traders seeking the latest updates and insights on Jakks Pacific stock.
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 (NASDAQ: JAKK) has partnered with Sega of America to launch products linked to the new animated series Sonic Prime, which will debut on Netflix in 2022. The collaboration will include the creation of action figures, playsets, and costumes. Additionally, Disguise Inc. will join the partnership as the official costume designer. The product line aims to reach global markets in 2023 and enhance the brand's engagement with fans and collectors. This collaboration is anticipated to further strengthen JAKKS' position in the toy industry.
JAKKS Pacific (NASDAQ: JAKK) has introduced its Rock N Rollerskate dolls, which allow children to enjoy roller skating remotely. The dolls perform various skating maneuvers and feature lighting effects, along with music options. This product launch coincides with the holiday shopping season. The company has also partnered with Kids Skate Free, a program promoting children’s physical health by offering up to two free skating passes per week. Since 2012, the program has served over one million children, emphasizing JAKKS's commitment to enhancing child well-being.
JAKKS Pacific (NASDAQ: JAKK) has secured its role as the North American seasonal toy partner for Moonbug Entertainment's CoComelon. The company is developing a range of products, including CoComelon furniture, ball pits, trampolines, and dance mats, slated for retail release in Spring 2022. CoComelon is the most popular brand on YouTube, boasting over 3.5 billion monthly views, engaging children with vibrant colors and educational content. Exciting product details, such as an interactive step stool and a portable booster seat, highlight JAKKS' innovative approach to this partnership.
JAKKS Pacific, Inc. (NASDAQ: JAKK) will participate in a "fireside chat" at the Jefferies Virtual Global Interactive Entertainment Conference on Thursday, November 11, from 1:30-2:10 EST. CEO Stephen Berman will lead the discussion, providing insights into the company’s portfolio of toys and consumer products. JAKKS, headquartered in Santa Monica, California, is known for its broad range of proprietary and licensed brands, including Fly Wheels™ and Disguise®. The event will be webcast live, with a replay available following the presentation.
JAKKS Pacific, Inc. (NASDAQ: JAKK) announces its Super Mario™ Deluxe Bowser's Airship Playset as a finalist for the 2021 Toy of the Year (TOTY) award. Launched on March 10, 2021, this collectible has garnered positive sales momentum, boosting point-of-sale growth in double digits across major retailers. The playset retails for $39.99 and features sound effects and mechanisms like spinning propellers. Additionally, JAKKS released new Super Mario plush toys priced at $9.99 and a Mario Kart™ R/C Racer for $39.99, catering to the holiday market.
JAKKS Pacific, Inc. (NASDAQ: JAKK) has launched the Rock N Rollerskate dolls, just in time for the holiday season. These 10.5” remote-controlled dolls, Rainbow Riley and Lightning Luna, are designed for children aged 5 and above, retailing at $39.99. They feature unique movements like 360 spins and light-up wheels, along with music options. The product taps into the trending roller skating phenomenon on social media, aiming to capitalize on the early holiday shopping market.
JAKKS Pacific, Inc. (NASDAQ: JAKK) reported Q3 2021 net sales of $237.0 million, down 2.2% from $242.3 million in Q3 2020. The Costumes segment showed strength, with 16.4% growth year-over-year. Gross margin improved to 31.6%, despite higher freight costs. Net income increased to $36.0 million or $3.97 per share, up from $32.1 million in the prior year. Year-to-date net sales were $433.2 million, an 11.8% increase. Liquidity stood at $69.8 million, including $26.7 million in cash.
Disguise, Inc. has amended its licensing agreement with Hasbro/eOne, expanding international rights to include Latin America, Australia, and New Zealand. This marks the first time Disguise will design, market, manufacture, and distribute costumes for popular brands such as Transformers and Peppa Pig in these regions. The company anticipates solid growth with new distribution partnerships set in place. Additionally, a multi-year agreement has been extended for PJ Masks in North America, which has been a valuable line for Disguise since 2016.
JAKKS Pacific, Inc. (NASDAQ: JAKK) has launched new ReDo skateboards featuring updated graphics just in time for the holiday season. The product lineup includes complete boards priced between $19.99 and $59.99, catering to skateboarders of all skill levels aged 8 and up. The innovative designs focus on user experience, offering balance, trick capability, and ease of use. JAKKS Pacific aims to provide quality skateboards at accessible price points to meet market demand during the holiday shopping rush.
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