California-based toy maker Jakks Pacific is anticipating a return to profitability this year, following tapering losses during its fourth quarter of 2013, after a year marred by a changing toy landscape that led to a company-wide restructuring.
In the lead-up to Toy Fair, Warner Bros. Consumer Products (WBCP) has signed numerous new global licensees to many of its hit kids IP, and the company has promoted Ana de Castro from WBCP’s SVP of business and legal affairs to Warner Bros. Entertainment’s SVP and deputy general counsel.
For a toy company like California-based Jakks Pacific that has been weathering stormy sales numbers throughout the year, there’s hope on the other side. Jakks is crossing over into the new year with an interactive toy strategy in place, which it says is in line with changing consumer play patterns, as the company tries to pick itself up from a 27% drop in sales and a company-wide restructure that occurred in 2013.
Former Mattel CEO Jill Barad and Playmobil president Horst Brandstatter will be inducted into the US Toy Industry Association (TIA) Hall of Fame, along with the late Jack Friedman, former chairman, CEO and co-founder of Jakks Pacific, and the late co-founders of Wham-O, Arthur “Spud” Melin and Richard Knerr.
After experiencing a 27% sales slide in the second quarter of this year, California-based toymaker Jakks Pacific has reported US$310.9 million in sales for Q3, down slightly from the US$314.5 million generated for the same period last year.
Following the trend of enhancing kids’ interactive experiences with physical toys and digital content, DreamPlay Toys has released Ariel’s Musical Surprise, the first app in its mobile-toy initiative as a joint-venture between Jakks Pacific and NantWorks.
As Marvel continues to grow its portfolio of superhero feature film properties, San Diego-based manufacturer Disguise has inked a new deal that will offer an expanded range of Marvel inspired Halloween costumes and accessories.
Restructuring plans are underway at Jakks Pacific, after the California-based toymaker experienced a sales slide of 27% during its second quarter of this year. President and CEO Stephen Berman has cited the ongoing shift to digital play and underwhelming performances of key properties as reasons for falling sales.
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