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Jakks has its strongest Q2 in a decade, with net sales up 96%

Skies were particularly blue in Latin America (+228%), Canada (+150%) and the US (+102%), driven by strength in the costumes segment (+132.2%) that compensated for a second soft quarter in a row for outdoor/seasonal toys.
July 28, 2022

LA-based toyco Jakks Pacific racked up US$220.4 million in Q2 net sales—a 96.2% increase over the same period last year, and its second-highest earnings quarter in a decade.

“Despite the continuation of supply-chain cost pressures, we nonetheless recorded our first profitable second quarter in 10 years,” said CEO Stephen Berman in the company’s Q2 financial report.

Contributing significantly, the costume segment posted its highest sales since Jakks acquired Disguise in 2008, growing by 132.2% to US$71.5 million. Likewise, the toys/consumer products category was up 82.6% to US$148.8 million, led by licensed action figures for feature films Sonic the Hedgehog 2 and Encanto.

Action games and collectibles jumped 89.4% to $37.1 million. And dolls, role-play and dress-up also put in a stellar performance, with earnings up by 107.4% to US$102.1 million. One segment that didn’t follow the pattern was outdoor/seasonal toys, which declined by 24.8% to US$9.5 million. This is the second quarter in a row in which the category has lost ground.

Similar to what other toycos have experienced recently, LatAm led the way in terms of international performance, with Jakks’s net sales in the region growing by 228% to US$3.8 million. In Canada, sales were up 150.8% to US$5.5 million, and the US experienced a 102.1% bump to US$192.4 million. By contrast, sales dropped sharply in the MENA region by 49.9% to US$186 million.

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