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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) 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.
Disguise, Inc., the Halloween costume division of JAKKS Pacific, Inc. (NASDAQ: JAKK), has launched a new line of licensed wheelchair cover sets and adaptive costumes for Halloween 2021. Following the success of its initial adaptive wheelchair covers in 2020, the company has expanded its offerings to include jumpsuits and dresses. The products are designed to be accessible for children with various needs, featuring practical elements like detachable capes and easy dressing options. Positive feedback from caregivers has encouraged plans for further expansion in 2022.
JAKKS Pacific, Inc. (NASDAQ: JAKK) is set to release its third quarter 2021 financial results on October 27, 2021, after market close. A teleconference is scheduled for 5:00 p.m. ET on the same day, where management will discuss the results and potential future prospects. Investors and analysts can participate via phone and listen to a replay of the conference available until November 3, 2021. JAKKS Pacific specializes in designing and marketing toys and consumer products worldwide, with a diverse portfolio of proprietary and licensed brands.
Disguise, Inc., the Halloween division of JAKKS Pacific, Inc. (NASDAQ: JAKK), has launched a new line of costumes and accessories for Halloween 2021. The collection includes popular franchises such as Minions, Jurassic World, and classic horror characters like Chucky. Notable additions feature costumes from recent movie releases, gaming characters, and preschool options, appealing to a broad age range. The rise of trunk-or-treating has influenced the collection, with themed kits for various family-friendly brands. All products are available online and in stores now.
JAKKS Pacific, Inc. has partnered with Sony Pictures Consumer Products to produce a range of costumes and accessories for the Ghostbusters franchise, including the upcoming film Ghostbusters: Afterlife. This marks the first time Disguise, JAKKS' costume division, will create products for this iconic franchise. The costume line will be available in Fall 2021, targeting both retail and online markets. With the film set to release on November 19, 2021, the collaboration aims to attract a new generation of Ghostbusters fans.
JAKKS Pacific, Inc. (NASDAQ: JAKK) has announced the launch of a new line of toys inspired by Disney's upcoming film 'Encanto,' set for retail release on October 3. The collection includes interactive playsets, dolls, and accessories that embody elements from the movie, designed for children ages 3 and up. Notable products include the Magical Casa Madrigal playset, Singing Mirabel doll, and fashion doll assortments. The film debuts in theaters on November 24, promising to enhance the toy line's appeal.
JAKKS Pacific, Inc. has announced the appointment of Lori MacPherson to its Board of Directors. Ms. MacPherson brings over two decades of experience from her previous role as Executive Vice President at Disney and will contribute valuable insights to JAKKS' consumer product strategy. CEO Stephen Berman expressed confidence in her ability to drive growth by enhancing engagement with diverse customer segments. This strategic addition aims to strengthen JAKKS' market position and potentially boost shareholder value.
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