2024-04-24 18:11:56 ET
Without a bump from high-grossing kids movies like last year’s “The Super Mario Bros Movie” and “The Little Mermaid” sales at JAKKS Pacific were down 16% in Q1 to $90.1M resulting in a loss of $1.09 per share. The reverberations spread through the rest of the company’s performance in the first quarter with higher inventory obsolescence and retailer markdowns resulting in a loss of 580 basis points to gross profit margin. ...
Read the full article on Seeking Alpha
For further details see:
Lacking blockbuster hits, JAKKS Pacific's sales slip 16%