Disney licensed goods – including Frozen, Disney Princess and Cinderella – helped drive a 38% jump in sales for California-based Jakks Pacific in the first quarter. The strong sales helped to narrow the quarterly net loss to US$7.6 million, more than 50% smaller than the US$16.3 million net loss reported in Q1 2014.
Overall, sales were up to US$114.2 million, a significant improvement from last year’s US$82.5 million.
Jakks’ Frozen licensed products got a boost from Disney’s animated short Frozen Fever, which was released earlier this year with live-action remake Cinderella.
Strong sales of Disney Fairies products, Nintendo figures and plush, and Star Wars large-scale figures and licensed ball pits furthered Jakks’ performance. Growth in children’s wagons and indoor and outdoor furniture also helped Q1 sales.
Additionally, the toyco noted growth in its international business. Jakks UK office led international growth in Q1, while the establishment of local operations in Latin America, China and Germany showed encouraging results.
Jakks’ Pacific CEO and president Stephen Berman said in a statement that the company is building on its momentum from 2014, in which the toyco saw an overall return to profitability.
Working to continue on that momentum, Jakks is developing a slate of new products for 2016. It has secured licenses for a number of entertainment blockbusters launching in 2016, including the upcoming Smurfs sequel. The company’s digital division also has a number of tech-driven products and app launches slated.