In the supplier’s latest results for the third quarter, costume sales decreased by 17% year-on-year, but expectations remain high for Disguise.
Jakks Pacific has reported total sales of $323 million in the third quarter ended 30 September, 2022, a year-on-year increase of 36%.
Costume sales were $53.4 million, a 17% decrease year-on-year. Sales for the year-to-date for costumes are $134.7 million, a 36% increase compared to 2021.
Operating income for the company in the third quarter was $53.7 million, compared to $36.7 million in Q3 2021.
Stephen Berman, ceo of Jakks Pacific, commented: “We continued to see strong sell-through for our product throughout the third quarter.
“By leaning into our heritage as an FOB-first company, we’ve managed to ship more of our product earlier in the year to avoid excessive supply-chain expenses and mitigate out-of-stock risks at retail. As a result, our customers are ready for the holiday season with a great range of product and promotional plans. We are on track to deliver full-year 2022 revenue growth around 20% vs. prior year for the second year in a row, which are exceptional results that the team and I are very proud of.
“In addition to the strength in our toy segment, our costume business is also performing at a very high level. We have already shipped 25% more costumes this year than the amount we shipped in all of 2021. Q3 2022 Disguise costumes sales were down compared to Q3 2021 as Halloween customers ordered product earlier this year. We are on track for our biggest year with Disguise since JAKKS acquired the company in 2008, and we are also excited about that momentum continuing into 2023.”