Belle
Consumer Products

Jakks Pacific takes a sales hit

California-based toy company Jakks Pacific, which designs and markets toys and figures for brands like Disney, Pokemon and Hello Kitty, saw its sales dip 5% to US$332.4 million during its third quarter.
October 18, 2011

California-based toy company Jakks Pacific, which designs and markets toys and figures for brands like Disney, Pokemon and Hello Kitty, saw its sales dip 5% to US$332.4 million during its third quarter.

Earnings for the period were US$34.8 million compared to US$40.4 million last year. Excluding legal and financial advising fees in 2011 associated with the potential US$670 million takeover by Oaktree Capital that was rejected earlier this month by Jakks, third quarter earnings in 2011 would have been up to US$35.3 million.

Net sales for the nine-month period were US$536.7 million compared to US$549.3 million in 2010.

The company says its Our Spy Net electronics, I Am T-Pain Mic, Cabbage Patch Kids, Singing and Storytelling Belle (pictured), Disney Princess Dress-Up and role play items are expected to have strong performances this holiday season.

The company also remains optimistic about its recently completed acquisition of Hong Kong-based Moose Mountain Toymakers and continues to expect sales of between US$770 to US$775 million for the full year.

About The Author
Wendy is Kidscreen’s Associate Editor. When she’s not sourcing material for the brand's daily email newsletter, she’s researching, writing and connecting with others about the newest trends in digital media. Contact Wendy at wgoldman@brunico.com.

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