News

Jakks Pacific sees declines in Q3

Having recently announced company layoffs after consolidating its Hong Kong and New York operations, Malibu, California-based toyco Jakks Pacific has been working through its restructuring plan, which it announced its third quarter results.
October 22, 2009

Having recently announced company layoffs after consolidating its Hong Kong and New York operations, Malibu, California-based toyco Jakks Pacific has been working through its restructuring plan, which it announced its third quarter results.

Net sales were down to US$351.4 million versus US$357.8 million from the same period last year, while net sales for the first nine months of 2009 sit at US$604.9 million, compared to US$634.1 million for the first nine months of 2008. There were also declines in net income down to US$33.7 million, versus US$54.1 million in Q3 2008. Jakks posted a net loss of US$383.7 million for the nine month period, whereas it saw earnings for the first nine months of 2008 of US$59.2 million

The toyco is continuing to reduce costs and restructure as a result of the tough retail climate, and is looking at potential acquisition opportunities and internal growth initiatives.

About The Author

Menu

Brand Menu