JAKKS Pacific (JAKK) to Market Sonic Prime-Based Toy Line-up
JAKKS Pacific, Inc. JAKK recently announced a partnership with Sega of America, Inc., to provide merchandise offerings for the upcoming animated Sonic the Hedgehog series Sonic Prime.
Per the agreement, JAKKS Pacific will produce action figures, playsets, vehicles, plush and other collectibles associated with the upcoming show.
Sonic Prime features the “Blue Blur” of video game fame in a high-octane adventure where the fate of a strange new multiverse rests in his gloved hands. JAKKS Pacific and its costume division Disguise will design, manufacture, market and sell Sonic Prime-branded product lines worldwide starting 2023.
With respect to the partnership, Craig Drobis, senior vice president of Marketing at JAKKS Pacific, Inc., stated, “Sonic Prime’s premiere on Netflix in 2022 will keep fans engaged with the property and give JAKKS a whole new Sonic multiverse to explore through toys and costumes. Our customers are not just kids, but also collectors, and this brand consistently hits the mark with retailers and fans year after year.”
Increased Focus on Partnerships
JAKKS Pacific has collaborations with Disney, Skechers, Nickelodeon, Cabbage Patch Kids and Chico to manufacture toys and merchandise related to these brands. During third-quarter 2021, the company initiated a new doll program (in the United States) in association with Disney and Target. Branded as Disney ily 4EVER, the fashion line comprises 18 installs or related accessories inspired by Disney stories and caricatures. This includes the likes of Minnie Mouse, Tinkerbell, Stitch, Ariel, Elsa, Rapunzel and more. The company witnessed solid customer reactions in this regard. It also recorded solid growth in Disney Princess, Nintendo and Sonic, with product lines comprising Super Mario Deluxe Bowser Airship and Sonic Giant-Eggman Robot Battle set.
Going forward, the company plans to launch the Encanto product line in the girls division that will comprise fashion dolls, large dolls, playsets, dress-up and role-play. The pipeline also includes the extension of its Perfectly Cute doll and accessory line at Target as well as the launch of toys and collectibles based on Haribo (a global gummy candy brand). In the boys division, the company intends to work on the Black and Decker product line along with the re-release of Creepy Crawlers. The company has undertaken universal brand development with franchises like Jurassic World, Minions, Child’s Play, Sony (including IP like Ghostbusters and Cobra Kai) as well as for Netflix’s Stranger Things, Ada Twist and Money Heist. These are likely to drive sales in the upcoming periods.
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Shares of JAKKS Pacific have surged 114.6% in the past year against the industry's 12.4% decline.
Zacks Rank & Key Picks
JAKKS Pacific currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the Consumer Discretionary sector include Hilton Grand Vacations Inc. HGV, Bluegreen Vacations Holding Corporation BVH and Century Casinos, Inc. CNTY.
Hilton Grand Vacations sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 411.1%, on average. Shares of the company have increased 66.3% in the past year.
The Zacks Consensus Estimate for Hilton Grand Vacations’ 2022 sales and earnings per share (EPS) suggests growth of 27.7% and 154.4%, respectively, from the year-ago period’s levels.
Bluegreen Vacations flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 695%, on average. Shares of the company have surged 154.4% in the past year.
The Zacks Consensus Estimate for Bluegreen Vacations’ 2022 sales and EPS indicates a rise of 7.6% and 0.4%, respectively, from the year-ago period’s levels.
Century Casinos carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 758.9%, on average. Shares of the company have increased 99.4% in the past year.
The Zacks Consensus Estimate for Century Casinos’ 2022 sales and EPS suggests growth of 16.9% and 44.7%, respectively, from the year-ago period’s levels.
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