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JAKK

JAKKS Pacific

$2.83

-0.025 (-0.88%)

13:32
09/20/17
09/20
13:32
09/20/17
13:32

JAKKS Pacific doesn't see LT material adverse impact from Toys 'R' Us filing

JAKKS Pacific announced that the company does not anticipate any long-term material adverse impact from the Toys 'R' Us bankruptcy filing. The uninsured portion of the amounts due from Toys 'R' Us represents less than 3% of the company's outstanding accounts receivables as of September 18, 2017. The company also stated it is not known yet what the recovery will be on such uninsured receivables. Sales to Toys 'R' Us were anticipated to account for approximately 5%-6% of the company's net sales for the third and fourth quarters, but the company does not know what amount of such sales will be realized. JAKKS now expects to recognize charges against income for the 2017 fiscal year, including cash charges related to the write-off of bad debt and minimum guarantee shortfalls, and non-cash charges related to the impairment of certain assets including goodwill from acquisitions. The company is revising its forecast since it now expects to sustain a net loss and negative earnings per share for the year, but still expects to have positive EBITDA, as adjusted, for the year, although not higher than the prior year, as previously announced. JAKKS otherwise anticipates no significant impact on its ability to execute on-going corporate initiatives and business operations. JAKKS CEO & Chairman Stephen Berman said, "2017 continues to present a challenging retail environment, which has now been further disrupted by the Toys 'R' Us Chapter 11 filing. Nevertheless, the announced availability of DIP financing leaves us optimistic that we can resume our relationship with Toys 'R' Us as one of its significant suppliers."

JAKK JAKKS Pacific
$2.83

-0.025 (-0.88%)

09/07/17
JEFF
09/07/17
NO CHANGE
JEFF
Jefferies lays out retailers most exposed to Toys R Us
Following yesterday's media report that Toys R Us could file for bankruptcy protection, Jefferies analyst Stephanie Wissink notes the chain is in the top three retailers for Hasbro (HAS), Mattel (MAT) and JAKKS Pacific (JAKK). Toys R Us made up 11%, 9%, 15%, of Hasbro, Mattel and JAKKS revenue in 2016, respectively, Wissink tells investors in a research note. She believes, however, that this revenue share would be shifted to alternative channels. Industry demand is resilient to these types of impacts, given the growing alternative channels for purchase, the analyst contends. Wissink thinks any retail fallout from a Toys R Us bankruptcy would be temporary.
06/08/17
JEFF
06/08/17
INITIATION
Target $4.5
JEFF
Hold
JAKKS Pacific initiated with a Hold at Jefferies
Jefferies analyst Stephanie Wissink initiated JAKKS Pacific with a Hold and a $4.50 price target saying execution has been somewhat "spotty" and said he would get more constructive on the shares if owned IP investment helped to rebalance the sales mix.
05/23/17
DADA
05/23/17
INITIATION
Target $5
DADA
Neutral
JAKKS Pacific initiated with a Neutral at DA Davidson
DA Davidson analyst Linda Bolton Weiser started JAKKS Pacific with a Neutral rating and $5 price target. The retailer has reported sales declines in five of the last six years, with another decline expected in 2017, despite strong toy industry growth, the analyst writes.
12/30/16
PIPR
12/30/16
NO CHANGE
PIPR
Piper's checks point to sluggish toy sales
Piper Jaffray analyst Stephanie Wissink said yesterday that her channel checks through post-Christmas have continued to point to below plan sales across the toy category. She believes holiday toy sales are looking to be flat/down low-single-digits, at best. Stock weakness across toys appears to be "fairly factoring in weakness in Q4 and potential inventory correction measures," Wissink wrote to investors. She sees some risk to 2017 consensus estimates and notes that if she had to pick, she'd prefer shares of Hasbro (HAS) in the space. The analyst has a Neutral rating on Hasbro along with JAKKS Pacific (JAKK) and Mattel (MAT).

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