Fly News Breaks for December 13, 2019
FNKO, BBW, JAKK, MAT, HAS
Dec 13, 2019 | 08:18 EDT
Jefferies analyst Stephanie Wissink called reports of a trade agreement in principle with China that will remove and/or delay tariffs on toys a "holiday gift" and "reprieve" for toy companies including Hasbro (HAS), Mattel (MAT), Funko (FNKO), Build-A-Bear (BBW) and Jakks Pacific (JAKK). While the second half of 2019 order flow damage is done and she expects some of the operational response to tariffs to remain, this news means the estimated 200-250 basis point drag to margins from the tariff cost burden may be avoided, Wissink tells investors. In terms of the holiday season, Wissink said her season to-date checks continue to reinforce her category expectation for low-single digit growth and she is are relying on "a final weekend thrust" to push holiday season toy sales into the low-to-mid single digit range. She has Buy ratings on Hasbro, Funko and Build-A-Bear and Hold ratings on Mattel and Jakks.
News For HAS;MAT;FNKO;JAKK;BBW From the Last 2 Days
Feb 14, 2020 | 18:23 EST
In an interview on CNBC's Mad Money, Mattel CEO Ynon Kreiz said, "2019 was an inflection point in our turnaround. We significantly improved profitability. We grew market share in Q4 and retained global leadership. Our strategy is to turn Mattel into an IP-driven toy company." When asked about the coronavirus, Kreiz said, "So far we are okay, but if it lingers, it will have an impact. We're in a better position than our peers due to our size. We hope to be able to mitigate any challenges in China."
Feb 14, 2020 | 16:25 EDT
Stocks spent the day trading around the flatline after data showing that U. S... To see the rest of the story go to thefly.com. See Story Here
Feb 14, 2020 | 12:34 EDT
Stocks are flat at midday after data showing that U. S... To see the rest of the story go to thefly.com. See Story Here
Feb 14, 2020 | 10:24 EST
Analyst meeting to be held in New York on February 21 at 1 pm. Webcast Link