Jakks has its strongest Q1 in a decade, with net sales up 44%

Numbers were up significantly in MENA (157%), the US (+40%) and Europe (+82%), driven by strength in the costumes segment and brisk sales for Sonic 2 toys.
April 29, 2022

Jakks Pacific racked up US$120.9 million in Q1 net sales—a 44% increase over the same period last year, and its highest earnings for a first quarter in more than a decade.

Contributing to the growth, the costume segment that includes Jakks-owned Disguise more than doubled sales this quarter to US9.7 million, and a sharp rise in business in the MENA region was also a factor.

The action play & collectibles category was up by 93% to US$31.6 million, led by licensed action figures for the Sonic the Hedgehog 2 film. And dolls, role-play and dress-up also performed well, growing by 37.3% to US$62 million. One category that didn’t follow suit was the outdoor/seasonal toy segment, which was just slightly down by 4.9% to US$17.4 million.

Internationally, net sales in the MENA region spiked by a whopping 157% this quarter. But numbers were rosier in the US (up 40% to US$97 million) and Europe (up 82% to US$13 million) as well.

Heading into Q2, the company anticipates having to navigate an unpredictable period because of the pandemic, according to Jakks chairman and CEO Stephen Berman in a press release. But he added that licensing deals for big brands such as Disney’s Encanto, the impact of Netflix series Sonic Prime launching this year, and a return to trick-or-treating IRL on Halloween all indicate a positive outlook for the rest of the year.

 

 

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News editor for Kidscreen. Ryan covers tech, talent and general kids entertainment news, with a passion for kids rap content and video games. Have a story that's of interest to Kidscreen readers? Contact Ryan at rtuchow@brunico.com

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