JAKKS Pacific (JAKK) Secures Deal With Mob Entertainment
JAKKS Pacific, Inc.’s JAKK costume division, Disguise, has reached a multiyear licensing deal with Mob Entertainment for North America and EMEA. The deal will help to design, develop and manufacture costumes and costume accessories for the episodic horror survival game, Poppy Playtime.
Tara Cortner, president and GM of Disguise said, “As the popularity of this genre continues to surge, we are thrilled to be a part of it. Our passion lies in developing costumes that bring kids, adults and fans into the world of their favorite characters. Poppy Playtime is sure to be a hit this year.”
Over the last few years, Disguise has witnessed robust growth in both international and domestic markets. The company’s Disguise costume business is likely to perform well in 2023. Disguise imaginative and cutting-edge products are available to customers across the world. This multiyear partnership will help JAKK to drive the segment’s revenues.
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Shares of JAKK have gained 28.8% in the past six months compared with the industry’s increase of 6.2%.
Increased Focus on Licensing Partnerships
Since the beginning of 2017, JAKKS Pacific has entered into multiple licensing agreements across varied product lines, which hit stores throughout the year. The company’s licensing partners are responsible for some of the most popular intellectual properties in the world including The Walt Disney Company, Marvel, Pixar, DC Comics, Warner Bros., NBC Universal and many others.
The Zacks Rank #3 (Hold) company’s outlook for 2023 and beyond is promising. JAKK’s strategic expansion into new categories and acquisition of licenses to enhance its products have led to thriving evergreen businesses. The introduction of skateboard and roller skate products, with and without licenses, in its seasonal business garnered positive customer response. To maximize this success, JAKKS Pacific is expanding its distribution channels.
Stocks to Consider
Here we present some better-ranked stocks from the Zacks Consumer Discretionary sector.
Royal Caribbean Cruises Ltd. RCL presently sports a Zacks Rank #1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 26.4%, on average. The stock has increased 31.8% in the past six months. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RCL’s 2023 sales and earnings per share (EPS) indicates growth of 48.3% and 160.5%, respectively, from the year-ago period’s levels.
Skechers U.S.A., Inc. SKX currently flaunts a Zacks Rank #1. SKX has a trailing four-quarter earnings surprise of 18.8%, on average. The stock has improved 31% in the past year.
The Zacks Consensus Estimate for SKX’s 2023 sales and EPS indicates gains of 7.8% and 31.9%, respectively, from the year-ago period’s levels.
Crocs, Inc. CROX currently carries a Zacks Rank #2 (Buy). CROX has a trailing four-quarter earnings surprise of 19.6%, on average. The stock has gained 9.2% in the past six months.
The Zacks Consensus Estimate for CROX’s 2023 sales and EPS indicates rises of 13.2% and 5.7%, respectively, from the year-ago period’s levels.
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Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report
JAKKS Pacific, Inc. (JAKK) : Free Stock Analysis Report
Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report
Crocs, Inc. (CROX) : Free Stock Analysis Report
