Disney’s Frozen, Princess and Star Wars brands have helped Jakks Pacific see a 38 per cent increase in net sales for the first quarter of 2015.
The continued popularity of Nintendo figures and plush, licensed ball pits and a portfolio of seasonal products have also contributed to a growth in net sales totaling $114.2 million for the first quarter ending March 31st, 2015.
The total is a 38 per cent rise on last year’s $82.5 million reported in the comparable period in 2014.
The reported net loss for the first quarter was $7.6million. This compares to a net loss of $16.3 million for the comparable period in 2014.
“We are very pleased with the solid first quarter performance for Jakks, which built on our strong 2014, and we are working hard to continue the momentum through the year,” said Stephen Berman, president and CEO, Jakks Pacific.
“Frozen and other Disney properties like Disney Princess, Cinderella and Disney Fairies products continue to show encouraging performance at retail. Other contributors to the quarter included Nintendo figures and plush, Star wars large scale figures, licensed ball pits, foot to floor ride ons, wagons and children’s indoor and outdoor furniture.
“Seasonal products including children’s Wave Hoops, Sky Balls and Funnoodle water floats also contributed to the quarter.”
The firm is now looking to broaden its collaborative relationships with retailers across boarders and is developing new products and initiatives for 2016 for continued growth.
“We have licenses already secured for a number of entertainment blockbusters launching in 2016, and a robust slate of tech-driven products and app launches in our digital division,” concluded Berman.