The Q1 results show the supplier’s costume business has more than doubled compared to Q1 2021.
Jakks Pacific has reported net sales of $120.9 million for the first quarter of 2022, an increase of 44% compared to $83.8 million last year, the highest Q1 net sales since 2008. The company said the sales were led by strong growth in action play, dolls/dress-up and costumes.
The quarter saw an adjusted net loss attributable to common stockholders of $2.6 million, compared to $9.5 million in Q1 2021.
Stephen Berman, chairman and ceo of Jakks, commented: “Our 2022 is off to an exceptional start. For several years, we have talked about maintaining a disciplined focus on growing evergreen toy categories and brands to deliver consistently improving, yet sustainable results.
“In addition, this approach can also benefit from the excitement and enthusiasm new entertainment content can generate. As the year begins, we are starting to see strong results as more consumers discover and embrace films like Sonic the Hedgehog 2 and Disney’s Encanto, and want to deepen their relationships with the characters by engaging with a broad array of our toys, Halloween costumes, dad-to-day role play and many other related products.”
