Jakks Pacific sees sales increase to $82.5m in first quarter - ToyNews

Jakks Pacific sees sales increase to $82.5m in first quarter

The US toy firm has revealed a 5.7 per cent growth in net sales, culminating in $82.5 million in sales.
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Jakks Pacific has seen a “gratifying” start to the year, with net sales increasing 5.7 per cent to $82.5 million.

The firm has seen a growth in net sales of $4.4million compared to 2013’s first quarter sales of $78.1 million.

Meanwhile, net losses have dropped for the toy firm, with a reported net loss for the first quarter of $16.3 million, a better looking figure than last year’s $26.7 million.

Stephen Berman, president and CEO of Jakks pacific said: “Our first quarter results were gratifying and bode well for the balance of the year.

“Top contributors for the quarter included dolls, dress-up and role play in our Frozen line, Disney Pirate Fairies dolls and dress-up, pre-school foot to floor ride-ons and wagons, and many more.”

Berman states that the firm’s autumn lines are now proceeding on plan, with a broad portfolio of products enjoying a wide placement at retail.

This year’s line up includes Frozen dolls, scale figures lines such as Godzilla, Teenage Mutant Ninja Turtles and Star Wars Rebels, and new Hero Portal Plug It In and Play TV Games consoles as well as Nintendo plush and figures.

“We are also very excited about the expansion expected for this fall of our DreamPlay apps and toy products using the proprietary iD recognition technology of NantWorks, our joint venture partner,” he continued.

“We will plan on launching new updates to our existing DreamPlay apps, new apps tied to other products in our line including Max Tow Truck, and a stand alone app, all of which are anticipated to provide unique play experiences and first rate augmented reality animation.”

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