Jakks Pacific Inc. reported results for the company’s fourth quarter and full year ended December 31. Net sales for the fourth quarter were $254.0 million, compared to $137.7 million reported in the comparable period last year. Reported net income for the fourth quarter was $2.8 million, or $0.11 per diluted share. This compares to a net loss of $16.1 million, or $0.73 per diluted share, reported in the comparable period last year. Adjusted EBITDA for the fourth quarter increased to $10.6 million, compared with negative EBITDA of $6.0 million in the fourth quarter of last year. [Read more...]
Multiple sources report that the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) have reached a tentative agreement on a new five-year labor contract, ending several months of back-ups and delays at 29 West Coast ports.
The deal was reached with the assistance of U.S. Secretary of Labor Tom Perez and Federal Mediation and Conciliation Service Deputy Director Scot Beckenbaugh, following more than nine months of talks. As reported by Bloomberg News this past Friday, talks had broken down this month over a union demand that it be able to fire arbitrators in workplace grievances. The two sides had reached terms over salaries, benefits, the right of union members to maintain and repair truck chassis used to haul shipping containers, and health care. [Read more...]
The fifth season of TV series The Walking Dead will be accompanied by new The Walking Dead Minimates, from Diamond Select Toys and arriving at Toys “R” Us stores nationwide and toysrus.com in March. The new assortment features characters from the “All Out War” story arc featured in issues No. 115 to 126 of The Walking Dead comic book series, in which Rick’s group teams up with other communities against the powerful Saviors group. [Read more...]
Jakks Pacific Inc. was awarded the Vendor of the Year Award from Toys “R” Us. The award is presented annually to business partners that have helped the company become a resource for kids and families.
“We are honored to receive the ‘Vendor of the Year’ Award from Toys “R” Us,” says Jack McGrath, Chief Operating Officer, Jakks Pacific Inc. “The partnership between Jakks and Toys “R” Us is truly collaborative. Toys “R” Us highlighted our ability to spot trends early in the year and swiftly and efficiently bring products to market. We look forward to continue being a valuable business partner to Toys “R” Us.”
Brandberry has joined forces with Flux Animation Studio to develop Furmaids, and is searching for broadcast partners around the globe, in addition to a toy partner. Furmaids are magical animals that transform into animal/mermaid hybrids when they enter the water. The brand features themes of transformation, exploration, and cooperation—with an ecological twist. [Read more...]
ToyBacker has launched toybacker.com, the first crowd-funding site dedicated solely to the toy industry. The site will serve as a hub for creative toy innovators of all types to share their ideas, gather funding, and bring their products to fruition with the financial support of the consumer. [Read more...]
In their remarks during the Toy Industry Association’s (TIA) annual Toy Safety Update, U.S. Consumer Product Safety Commission (CPSC) Chairman Elliot Kaye and Commissioners Ann Marie Buerkle and Marietta Robinson emphasized that easing unnecessary third-party testing burdens for toy manufacturers will be a priority focus for the agency during the coming year. [Read more...]
Corus Entertainment‘s Nelvana has entered a partnership with Cepia LLC to bring the Zhu Zhu Pets brand back to store shelves, with Nelvana Studio producing a new animated series based upon the property. Nelvana Enterprises will also oversee global merchandising of the brand in conjunction with the distribution of the new series. [Read more...]
At its annual general meeting held on Monday, the Toy Industry Association (TIA) announced the election of three new members to the TIA Board of Directors for two-year terms of office expiring in February of 2017. Nominated to serve their first terms on the TIA Board were Kerry Cunnion, senior vice president of sales at Tomy International; Howard Kahn, chairman of Madame Alexander and CEO of Kahn Lucas; and Bruce Raiffe, president of Gund. [Read more...]
Colorforms Brand debuted an all-new line of Colorforms vinyl stick-on play sets at this year’s North American International Toy Fair. The initial launch, which hits shelves in the fall, includes such properties as Disney’s Frozen and Doc McStuffins; Disney•Pixar’s Cars; and Marvel’s The Avengers and Spider-Man. [Read more...]