Toy trade earnings season continues with JAKKS Pacific following Mattel and Hasbro in reporting fourth quarter and full-year 2024 earnings.
For the 12 months, internet gross sales slid 3% to $691 million, down from $711.6 million in 2023. Internet gross sales of Toys/Client Merchandise decreased 2% to $570 million, whereas the Disguise Costumes enterprise noticed internet gross sales dip 8% to $121 million. Moreover, the corporate noticed declines in gross margin, gross revenue, and working revenue.
In This autumn, enterprise picked up, with Disguise scoring a 46% year-over-year improve in costume gross sales. Toys/Client Merchandise internet gross sales declines slowed to only 1% whereas total internet gross sales grew 3%. The corporate says outcomes have been “roughly according to expectations” and that the timing of Sonic the Hedgehog 3 and Moana 2 powered gross sales in This autumn.
On an earnings name this night, CEO Stephen Berman famous the worldwide development for JAKKS Pacific in 2024, with greater than 300 new clients throughout Europe, the Center East, and Africa. Wanting forward, he hailed final month’s Spielwarenmesse as successful.
“The staff additionally had one other robust exhibiting on the Nuremberg Toy Honest [Spielwarenmesse]. We proceed to really feel that is an important present for us globally, given the broad breadth of consumers we are able to attain in a single location who’re in any other case unable to go to our showrooms in Southern California,” he mentioned.
This 12 months, JAKKS will launch quite a few new strains, together with an expanded vary of out of doors merchandise for the complete household.
The submit JAKKS Pacific Reports Q4, Full-Year 2024 Earnings; Hails Spielwarenmesse as its ‘Most Important Show’ appeared first on The Toy Book.
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