JAKK - Earnings call 4 2023 | JAKKS Pacific, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon, everyone. Welcome to the JAKKS Pacific Fourth Quarter Full Year 2023 Earnings Conference Call with Management, who will review financial results for the quarter and year ended December 31, 2023.

JAKKS issued its earnings press release earlier today. The earnings release and presentation slides for today's call are available in the company's recently remodeled website in the Investors section.

operational the afternoon John Berman, Stephen current Kimble, provide overview this Executive and will additional opening trends, business and comments call questions. closing prior provide to highlights an and and the Pacific's will will call Berman with John additional Officer; editorial Chief of some Mr. the then are JAKKS then performance up for around some Chairman Stephen financial Chief results. return with first of On recent along and quarter, Financial remarks Officer.

[Operator Instructions].

like protection company's the Before those actual and to as point circumstances, forward-looking we begin, safe any concerning XXXX other could and/or uncertainties, adjusted statements subject the company securities market Pacific's margins best events statements. sales, that projected would JAKKS comments forward-looking today or which judgment federal statements certain future EBITDA and harbor These of trends materially performance, are to on from made are to beyond in subject differ well current and any as conditions laws. reflect in under to estimates the including risks results based out XXXX cause

risks and the SEC most from For details these with reports filed with you well other subsequently and other XX-K as should time consult as concerning time. JAKKS' and SEC uncertainties, such recent the filings XX-Q the company's to

the measures today measure to metric earnings per financial financial most issued refer or In reconciled comparable share. the will financial otherwise, within press such adjusted been addition, stated directly EBITDA has non-GAAP company's today's by comments previously. adjusted release to Unless non-GAAP as the and earnings management associated GAAP

to I recorded. reminder, conference Stephen turn this Berman. now like As being With call over to the a that, is would

Stephen Berman

since update very say for I'm It's we us. are of the earnings our since last you despite Perhaps X call, better continue strength. that to and and performance happy afternoon, been to stakeholders solid building months at the then. thank our progress an end Good persistent more economy joining QX consumer we the around make pleased with our a in uncertainty for importantly, future and

high-level Here of since some headlines we what's spoke. last are new

down Halloween data. to according in the As year U.S. was we versus prior expected, syndicated

it our was our the for on more up for the XXXX costumes better in lined orders engage the than shipping of Although with market a also that delivery materials. position about down, licensors half and continue customers voice was season, we leader. strength also solidified today's that industry It's U.S. second coming as and of to while this opportunities

arrive did with XX to return on Christmas December patterns. pre-COVID scheduled, but last-minute shopping as a

maybe post-Thanksgiving. first and we consumer with year. product on accounts in year the our an with difficult was pushing to positive expectations comparisons business, little that top to U.S. better. QX finished product a And X As POS at X having less prior despite additional revenue line of FOB the reliant are roughly customers X end, even at toy

year same at versus high year. down percentages those addition, were In single-digit inventories prior retail accounts in

introduce opportunity to provide the was looking release for unlikely and lot we and weeks it's product at film a audience. from in to few a supported XXXX Thanksgiving perspective chase we a the are launch noted, has press XXXX. forward us a broader box realistically, great line, a still in the We office similarly streaming to a to it's As underperformed But a think film retail. challenge of

European as role COO President We of have as deployed new into his of scheduled. as January our Operations former

having Fair to great Europe the this part largest from and month, earlier the Nuremberg customers our we As with reenergized around our of on focus set meetings European both world. ever expansion, Toy our contingent

attract portfolio attention. resonate evergreen to balanced importantly, more and continues Our

and team for done footprint, opportunity and team As we growth a of our to building. There's is on our acted JAKKS increase opportunities of the immediate in But the to our to size lot lot had. benefit the be identifying upon be are and company. of retail momentum a locked European and work strength have that expansion to various to could be strengthen

of did full in versus XXXX release on primarily all attributable fire highlights year. total a full massive $XXX.X Thanksgiving To for of volume year. prior year and XX% year, the of hit sales quarter million. to QX some sales down prior was film that Bringing $XXX.X XXXX last X% down of our number the million were The financial was year net the amount versus from net of year. we

Nintendo lot the Mario QX of as that in close as in evergreen given to benefited we enough support also XXXX strong XXXX our in especially well. Although as line movie gap, of Bros a Sonic it Super from a released XXXX well X wasn't business promotional film generated

Better to percentage. QX landed full contribute year-over-year. generated a increased points This increase basis product costs highest margin in and dollar has dollars gross expansion This it's compared year since margin reduced XXXX. achieved particular, in level the remarkable helped X% ocean margin XXXX to gross company in of freight achievement. XXX million to a improvement year $XXX decline, an sales despite the growth prior is the

they despite generate XX enjoyed SG&A of margin X.X%, year margin full all strength line That to market enjoy prior about improvement gains points As a losing much basis share more. operating top we year dollar when scale. over as happen, we even an through flowed talking gains of

outcome still leading EBITDA at the not beginning QX EBITDA than year. a XXXX we year, was $XX.X of below level for a a of full better adjusted at Our us the anticipate million, did million, slightly adjusted prior year performance tremendous slightly to $XX.X but

up Mario was Prime XX% business and X% in the Nintendo year, by collectibles on Sonic and core ranges. and quarter play down our action and Sonic movie, Our Super product the led Bros

year. for started Our in Doll exceptional the full and X% down quarter to was the segment XXXX Dress-Up but Role-Play up lap and finally the XX%

the growth XX%. decline seasonal also full stabilized outdoor quarter in year business slowing Our to of the X% delivery and

$XX international X% from which our growth we led view, costumes, of was grew XXXX. year, up geography million, It's up prior at which at year Latin million versus a XX% great X% full than a the also had inclusive business Canada, business, million year. larger our in year. for America, $XX full It now From in in $XX by

America I've was and be toy North as products down with both and the down consumer XX% costume business discussed.

and when delivered we years, over retrench we Before successfully. have on handing precarious decisions financial improving there, in to to the as health I ensure steadily XXXX, XXXX, the significance up the off John, from that made annually. struck our out some a we given made unknowns. our the financial point and it subsequent of through We difficult XXXX position to wanted stability, business COVID And it wrap

Over years, in product where and flow a never of us business, from operations, million our we honestly cash global have of team X leading our $XX averaged the sales, million in place I net in the past caliber million EBITDA to $XX overall our say portfolio $XXX been could quality and the stronger.

now come John? and will are for about it back some how about will after which I comments, I XXXX. John more we talk thinking pass to over

John Kimble

wrapping talk a you, Happy We talked year. everybody. Happy lot and already up about sales. more bit another solid and quarter Stephen, a Thank Day, great to another about Leap

in landed driven our ultimately basis favorable to point mix. and costs product So costs. We we and product area landed import had year a compared for lower and by this XXX into last product ex-factory jumping margins improvement the into margins in quarter, the product better more specifically

points XX.X% level we driven of down from full to positive for and X our returns, goods a that's cost within with than better collaboratively factory basis, inventory generating over year years cost full net initiatives, combination That XXX results which of accomplishment own of per at of basis much year the designing and what an margin, how brought base to unsung bring results. in, ranges by and these financial improvement container. working That when a carefully On sales. our managing past our do XXX is

of ensure as of maintain constant our of to it's our cost a remains strong driver a efficiency to goods clearly in It try can this key narrative we results. level organization

basis where ideally. area That we was stable we are we can agreements, a will in of into of been has into overly points rate Guarantees higher not points Most is issues gave some are on rate royalty to royalty the with year. for as back going basis year, difference guarantee agreements couple not recently full expect if anything XX the a by always the be royalty this head case markets. minimum international being running the optimize most the area We our a new sometimes our up means that scrape where driven in would forward. effective back level We fact to look originally line guarantee can, concerned than life of ends which some and an about planned. relatively we bit of we versus

warehousing in higher of as selling it loss products direct scale mean to were as inventory Lower responsible Our and international we're quarter delivering the Increased directly to costs full generate for levels some costs on customers. the sales expense. up volume and relates outbound year. our freight

different the In a expenses, there G&A dynamics area place. taking couple of of are

of We are narrative the most labor. over are not inclusive past not areas couple years, the than broad more increasing immune from that of

keep where the we're of spending, Although base flat cost labor-driven that tends given is to it motivating is it review to a challenging and how nonetheless persistent be. how

various years that necessary technology, in the overdue for near abilities term. and But markets. we've in European term. These Latin in American make are the improvements we've talked new building out to opportunity like our levels achieve those to the and initiatives, And the in in footprint be selectively independent some growth to cybersecurity performance also is addition, areas accelerate we're about not greater recent in clear, achieved unlock cases, sustain and how although revolutionary, the efficiency arguably to commentary organization to medium upgrading of taking ideally and

an We over the going in the million highest $XX as in of Nonetheless, far up $X to costs as score operating We're SG&A, million sales. X.X%, in fewer were as less years. down achieved we're good with with income level we've still we concerned. outcome than margin across finished a on operating dollar year that XX

rising debt million year of half we'll the rate the dropped interest From to the $X.X in for environment, $XX.X to there, prior despite first thanks retirement the that million year. our our highlight from expense

to nominal amount are XXXX. reduce for that planning to We a expense further in

time, to Last this at of had deferred a analysis tax of assets, returns. our required on lot Moving allowance XXXX a taxes. XXXX significant through valuation year we against which release

operating assessment of our part a as this losses are review past or months, of the able company That finalizing will that analysis, to we've that to net has and QX utilize several increase Over further be conduct the NOLs going more decided identified which an close in we rigorous year. forward.

effective Although on the $X.X is in a pickup the does and exposure our plan for rate versus number limited, annual the usually that the P&L to tax somewhat year XXs we low lowers cash tax XX.X% change it to. generate million

pickup EPS of that out our We onetime adjusted adjusted have results.

per Other out results. of our housekeeping. an preferred a a a per liability $X.XX an $X.XX share The quarter. the compared loss adjusted share of significant Quoting EPS to our in million we was that the full results. diluted in was $X.X the adjusted per of stock adjusted year result our QX value EPS numbers On earnings non-GAAP XXXX. represents fair our the per diluted diluted are $X.XX in charge $X.XX We of recorded Those backed share basis, drivers over change year. of of of increase and increase our noncash last share loss only,

last well dozen last a this we're million, below at bit era. EBITDA finished a the years in with. was For of nonetheless, time result we we back-to-back adjusted happy level years million ago pre-Frozen $XX.X The year's had EBITDA, but a $XX.X extremely at over

quick balance Some highlights. sheet

hand of that one during restricted Our the consider we in in but million $XX.X calendar totaled cash down needs with year. cash, prior XX/XX, cash long-term eliminated equivalents debt and from $XX.X the year cash on million to million as $XX.X

product. As cash as QX XXXX $XX.X current more a reference million, February XX, as totaled of have completed owed in point the have royalties and we begun metric paying same investing

to to we manage that capital. and customer and we space, being have for Similar noting working players worth the proactively delivering FOB right with customers also down in to encourage the inventory price retailers ourselves model to align deliberately been value and other beneficial better working most as end continue demand consumers. the It's in owned our

of basis FOB exceeded Our great a sales efforts. XXXX, result another on total mix the XX% company team's in

a million, $XX.X goods reduction million. Our finished inventory finished $XX.X XX% from at last year's

back comments Stephen the And more ahead. year to now for some about

Stephen Berman

another We're into already months X our in industry. yet John. you, interesting year Thank

wondering outlook entertainment consecutive their industry more more A of specifically of Desert, consumer. for find the XXXX, new the for various TV taking new streaming average this view levels. along about the ourselves we a QX, bit the year film and fifth work and For thrifty is resulting of the economy providers stoppages a with the a implications from overlay investment

make do for feel this backdrop business doesn't up we easier more that solid doing best most. for success Although we anyone than are year, set

serves evergreen on these. focus us true play category Our well in like tried brands times and patterns, and

birthday entertainment preschoolers And when and some an market's we tent today parties happiness These for the to a fun July trips often of of shopping are or top retail. that at crowded large that for shelf point the events are the and activities. of toys innovation sub-$XX not giver. businesses promotional and satisfaction it's gift The recipient or and brick-and-mortar the priority are nothing the list the to strong float calendar array offer out deliver studying one-off going of lack the price continue the for retail by on out long They to X still bemoaning that pole. to of wide there's being or

we're immune year. view, dynamics. the solid again we With up once that that to for suggest larger That's set a not to are

light difficult numbers blockbuster lead the by movie we tends Over supporting And our this latest like business releases, are as volume blockbuster the brands. lines costume somewhat year-round business springs, business. to to business Those replace. expanding to by overall relatively sales and X benefited driving our year well product a tied often greatly past from to and led a as the for those film is the April films have softer driven high

reminding just I'm internal the teams, as often our world of that's But works. how business

the Without of the foundation, your is admittedly as about which are and although bit a results do objective You excited work are consistent, more we year, hard to large them of into if many we're to the toward compensate new financial JAKKS. second half. must number things head primary predictable our adapt deliver at underlining goal is there here a anchored

in been plans successful The in we release XXXX theaters chased From commercial us perspective, news expectation, of to to that the a tells content world consistent and Moana holiday delighted are for seller this film. Disney chapter the hear the the their us demand We ever season. X it original film exceeded a Moana, has next when Moana film since.

We a pieces new on be the separately, Sonic QX. of film by Hedgehog. And also of to the focused have excited line products the are we in new world inspired of entertainment X will enjoying in shelf

First on up is mid-January on Sonic season which released X Prime, in Netflix.

the is Super Second Bowl late during is set streaming the the It was Paramount+ after platform. prior to show, Sonic the featured Hedgehog and the film, second on X. April launching Knuckles which is but

Hedgehog Sonic launching the is product film developed year. Prime in this in franchise, successful Sonic of in and extensions addition and custom theaters December has The assortment. refreshes custom which The the in to film, of and our team for toy lines Hedgehog the the core third Sonic

Moving to Disney Princess.

toys of you the featured throughout this create world brand that Create stories this Princess celebrating over products. Princess from and campaign. Joy, Disney World, marketing will bring be launching Your world celebrating the Joy through campaign Disney the and X-year Disney Disney magical X the benefit We year. all campaign families fall, brand world brand Spark will of JAKKS global the would a to and

new progress with sharing line the our around world. Since Simpsons we quarter, also retailers great last made

began of and this incredible. locations the wait projected debut Season figures Season specifically just episodes our on XX hours and see New earlier The from this watched September. air XX is featuring characters month, to We dioramas are fans the to for show. to in range, and can't property

starting years which It's disclosed over to mass Gen been worldwide them a the a relationship has and market of Brands has with appeal powerhouse in wide we available. of XX thrilled portfolio quarter, and Zs toy millennials, and Simpsons We Group, the is with since range a been to Y. brand Gen ABG IP, last are announced The Authentic make

Quiksilver, have Sports range as a division of We our to been Prince, products Illustrated just into been slot working like well will wide expand and their on Roxy, Couture, of collaborating on the assortment names scope offerings. name iconic We've that a few. Element, as properties, of Juicy our

We Academy, initial as the well during presentations as was and XXXX from excitement proven such Goods, specialty such international brand's Target, good The being the retail sporting and SCHEELS Fair as mass with completed DICK'S met channels Amazon have global Toy at as retailers. both international customers. Walmart fall our recent Dunhum's, Nuremberg reach Sporting

excited and our Skateboard extremely roller at and out skates with new designs online. Juicy mass in-store new both Couture are and We specialty retailers, Quiksilver Roxy, amazing to and Element, be for rolling line of

complete of Sports umbrellas, pool JAKKS of launching XXXX, Illustrated. lines Roxy, dolls and accessories an inflatable and plash extensive Prince canopies, In Quiksilver, Forever fashion will line sand products, including accessories, XX, with mat, elements foldable be and from a wagons infused chairs, beach floats, outdoor doll and

is said trying holiday we U.S. share. for market think jockey calibrate a consumer to down their customers separately, as up market and we've post-COVID dialing the demand annual As still with where buys

rights to license Minecraft, Ghostbusters: films IP just evergreen several. Sonic, Me, addition market. to inclusive and & Entertainment's portfolio our name Panda do from Kung Illuminations Wicked In manufacturers Universal's to Fu Embassy the struggle in Halo, Nintendo, Sony's princesses Disney Stitch, strong We Lilo to Despicable Pokemon, have year, X, other addition, space additional of many creating the Empire, new to noise Frozen this in continue in the several

product to you XXXX have the for There additional We U.S. capabilities to separate for forward as the where also continuing lines. have are up look Disguise steadily we to build. to rights was which are telling to great Nuremberg new booths a a as the about of build queuing of our U.S. present quarters businesses show add we come. interesting to outside couple we rights in and continue

we different going of As things lot always a on. have

has in wanted in ups January it I is known one various during our ago. I truly been being with know years great XXth share. back thought year first shared and have XX decade relationships time so over was important back for remarkable and for the the founded a in more a a our us Nuremberg time It and year and XXXX Jack downs long-standing XXXX, many far. in commences years Jack-specific and catch the There time friends in who Those this now business consider long as have since. to customers Friedman we all that up

remarkable XXXX XXXX own as through years X in X past XXXX. we XXXX XXXX, have restructuring COVID work and chapter across have their peak and navigated years results tremendous The subsequently through created up our of put

We inevitably a another and Operator? for that, we towards proud we'll are but challenging, prove again year filled looking still with take couple your that of this only feel support questions. our forward interest. major time with performance And opportunities. extremely Thanks of are but is we

Operator

[Operator Instructions].

line Uerkwitz with first of Our from comes Jefferies. question Andrew the

Andrew Uerkwitz

just -- buy store the through birthday I'm sales buy impact kind about not Stephen, color have. like to to of impact Are the talk There's it question about because thinking they're -- the to holiday and on the I just there's a consumers? on slate of of still you lower for. specific for Is for. going really -- kind the that just think could could talking generally just I kind property there -- it appreciate parties or you. Is a movie the still they're less?

So impact I'm the JAKKS. just have trying that think might it on to directly

a of consumer -- weaker kind a impacts driver movie the the maybe you it trying any Just against when here color, or what to get have on Halloween, just is slate? real sense

Stephen Berman

Firstly, thank you, Andrew.

be real has toyrific. Frozen well. we've any, don't this does, may not Moana, like as normally a some they or properties, like call throughout toyrific hot overall could a there in it, it in things industry. So great movies, being in world, when JAKKS the be periods had our have sense, but are What that, the as merchandisable you But

buy excitement hot, what into of going in, they're isn't the when something does So they and the they hot them an come is that's on the retail something acquire it's additional buying there, consumer basis. driving that just products of usually and always impulse to

having core our hot TV we is evergreen our concept to not hot such It's And of it, chase us. by basic this comes positive which but theatrical initiatives is year. or it the So year. for JAKKS bet the back run, really something never That's along, real basics, a brick-by-brick business. to if on ensure even we

just So initiatives we of meeting have the didn't we XXXX authentic new amazing expect be our the that of today, to sporting until some retailers for example, these -- launch launching things. with in world in large one off finished that next an we year to with we're going

a have great track because the we we're had the coming which it that about really in is with new past, records is out. movie, Moana addition, we've In excited movie

it, some first and any consumer that well or are call excitement not excitement, quarters in there selling later major, the Sonic are the the are movies half even the of first there's happening year, the product in but those things year. really as X happening So as for

evergreen So you of really that well. to do businesses think got core

new, Simpsons So been around has our The basic line, tents, ball is out Sonic, is over Simpson first years forgot in product XX-something it's they're time the it's coming that many which ride-ons, years, there XX The Nintendo, of I how Simpson. XX years -- pits,

it, IP. call IP a a evergreen. even brand of So It's it's though that's launch -- not new strong new,

solid, excitement. high going the to So is industry of nothing out levels there's great very just are we stand, coming these into where push that's but we that

Andrew Uerkwitz

the speaking it's these initiative? year, as some Or we that a through outdoor initiatives, Got helpful. license That's And that's back more because see aside of and it. frame some your Just 'XX deals. helpful. of will from of Simpsons, of new Sonic trying to half That's well? really kind of outdoor super of The in the the

Stephen Berman

are goods So a we the seasonal ABG, flown just from have had ride-ons, and a really back ABG major And team have seasonal, ball and as skateboard, retailer, I pits on the they safety of Patrol full Nuremberg team commitments, has array focused. Paw roller that broad other the the road kid The and I'll road use sporting of but properties have the we and commitments on the been been equipment. and that the because the Element since has and -- skates on marketing we retail our tents mentioned, roadshow.

So skateboard Roxy the we in tents, mentioned launches which the all out, spring, I carriages, quarter the the March, when third and to quarter and fourth seasonal and expect have that to February, which expect December, then launching we the business chairs, that's just all 'XX. or for be come January, Quiksilver summer in would

grasp at But really good roller some getting are, and retail. they're the us skates skateboards

have April, Sonic this at the movie that January. December, But We which Netflix, on out out Knuckles, which like to Simpsons, fall at in still in Paramount+ parts, expect The Sonic happen the Moana. Prime, year. other we comes came

movie We Dragons, content but a of that's Disguise, there's World, tent just Joy as not with too. and marketing Sonic we a there's and that have with and Dungeons pole excluding of Nintendo lot machine, Kirby Spark global & a there's Moana, have Unicorn, launched, Create Your we've and Disney, IP campaign Afro big vending something

Andrew Uerkwitz

some those helpful. Got color. new initiatives getting job out than I later. it. sooner of And that good appreciate That's rather super

Stephen Berman

a press. big was That gold

Andrew Uerkwitz

the you, with on geography weakness, think about basis? of Yes. the of I of international right? No, mean international frame the that guys, kind that would to how international we great. that Is there's we way frame I should -- think but then Is year-over-year kind I I opportunity might that's some actually is overall opportunity? just be know initiatives, an global international And how it? Or one, should up right the an think

Stephen Berman

the The of center we new the new our center out a in next there the weeks. you Latin getting ancillary in up of to in been being we've are to all were that to how -- has France at That Walmart if out saw which territories and business. we're America FOB offices again increased. Italy get going couple shortly year Piacenza basis going growth our is Mexico. an up to. and distribution Belgium, But help primarily big for said, in remember, there a is initiative much hard Yes, We new I'm in opened our vendor distribution

Whirlpool think won above us. I

moderate, it's the and be. are expansion and big do articulating early internationally, seen have that right a some ABG certain worldwide you're in from which do have So new initiatives growth areas that as stand us say We're tremendous lot is we coming initiatives expect work a growth way we where as There's But lower for that we growth to Moana worldwide, the we from some the of now but too for X. that to strong we see base momentum. growth. have well, releases is Simpson easier us that of achieve to will

didn't should evergreen basic us we then with approach. the Disguise business that licenses that new help today know should things know, of with our us. that lot and a we November, help And direct-to-retail So December

all to but it, we're So seeing we it, completed. we'll forward more know these, fairs and looking once get toy meetings call

Andrew Uerkwitz

the FOB, as it. of John on of and because we Or pulls should I all there worry at cost should shipping all? pushes then rising the get helpful. we through side, the guess think one Got about how we question at That's kind year? you're And cost the for about

John Kimble

always top for really gets to I disrupted five given problematic The heavy point, are issues But of not to as going mindful the shipping to think I Europe sideways. would concern our moment. focus your bit like on relates to things the we're at be FOB, say, more that could it more a go and Europe. it's us,

to means that focused If on we just route. LA the out about ships taking even that like and draining Asia place, more you is on the capacity time are system, water it, longer mostly of time think the a therefore, if get are some to

Obviously, towards people year we're So more eye it we're going the moment. as inventory you I the that top do, is a means at worked not down we some to year, the say this and it. to of continuing to something on deliver have least product want. sales lot don't our monitor -- end bringing be it's a in an of did keep order when we concern in the at able it's it, to probably But which that think to

Andrew Uerkwitz

Got it.

looked lot discounting last for XXXX? guess, finally discounts thinking a we even question about How last saw I were a like But feels It of still then, And fall, competitors. it year your then like a are is some you normalized, they was are of in the discounting. big normalized. lot of inventories just, Okay. -- 'XX kind

Just year? curious the to basis? and to be price thinking 'XX are be right how are of but where this point on just about tend going I sweet you spot in $XX, points curious you're see price a that discounts what know below guys plan you

Stephen Berman

seems on but inventory think have speaking up everyone of that on gotten cleaned the people I specifically the, level, JAKKS. the So in majority it, industry -- the our inventory, call with

mentioned, to product, years. always just We great on pretty inventory. want throughout obsolete good a we with clean to inventory, And a low little We John we've are it place the got bit pretty of so have is on stand. all refresh which as

even -- the during under of as said, sweet under holidays, are I over our XX% our $XX. think being products it's spot $XX. majority the you And mentioned, is that But

specialty then X being is structure We've for, value. getting is which sweet parts the of complete really the X years, had, So consumer weaker mass development, spot difference much that are the a very for and last doing slightly unknown. a of

So heading really all channels distribution into. in different we are the that ancillary we're

the consumers we they stand financially. hit where So

the our to that, In addition evergreen are steady we what very of Eddie areas business in do.

So margins we're with in that not I do close do that concerned you part. you believe inventory, somewhat. inventory when the But hit

still of of business. a So part I our business. for us, minimal part think it's everyone's is But that

Operator

hand conference Berman to Thank you, back I'd now to closing Stephen like for the remarks. over

Stephen Berman

we're going excited We're of into for you, year now and excited after quarter first and JAKKS. about Thank Look, great year. first giving this to to excited for and We're quarter. 'XX the an looking call for this have to first forward the above update excited and talk year everybody.

Operator

conference you your Thank participation. today's concludes for call. This

You disconnect. may now

JAKKS Pacific (JAKK) 29 Feb 242023 Q4 Earnings call transcript