Jakks Pacific Cuts Forecast on Disappointing Sales Monday, December 19, 1:05 PM ET
Jakks Pacific (NASDAQ:
JAKK) shares are likely to trade lower Monday after the company cut its full-year forecast.
The toy designer and marketer said late Friday the sales performance of its products has been disappointing.
Jakks said it appears this holiday season is a difficult sales environment for toys, leading to higher markdown allowances and higher royalty expenses.
Jakss said it now anticipates full-year sales of $660 million, compared to a prior forecast of $770 million to $775 million.
Earnings per share are now expected in a range of $0.37 to $0.40 per share, compared to a prior forecast for earnings of $1.32 to $1.35 per share.
The new forecast is well below analyst expectations.
Shares of competitors Hasbro (NASDAQ:
HAS), Mattel (NASDAQ: MAT) and Leap Frog (NYSE: LF) are also lower on the dismal forecast.
For MarketNewsVideo.com, I'm Kristin Bianco.
Monday Sector Laggards: Textiles, Education & Training Services
Related symbols: DXYN, FOSL, UTI, BPI
Monday Sector Leaders: Oil & Gas Exploration & Production, Agriculture & Farm Products
Related symbols: TAT, CRK, UAN, SEED
Friday Sector Laggards: Oil & Gas Exploration & Production, Precious Metals
Related symbols: PQ, CWEI, THM, AG
Monday's ETF with Unusual Volume: PCEF
Related symbols: PCEF, DSU, PPT, IGI, STK
Monday's ETF Movers: OIH, XPH
Related symbols: RIG, NBR, ENDP, MNK, XPH, OIH
EZU, IRV: Big ETF Outflows
Related symbols: EZU, IRV, NXPI, AER, ABX.CA, PKX
Daily Dividend Report: TTEC, MTN, NRZ, SM
Related symbols: TTEC, MTN, NRZ, SM
Daily Dividend Report: MAS, WPC, RTN, CAG, UDR
Related symbols: MAS, WPC, RTN, CAG, UDR
Daily Dividend Report: LMT, IDCC, SAFM, CVS, LEN
Related symbols: LMT, IDCC, SAFM, CVS, LEN
Weekly Market Wrap: August 14, 2015
Related symbols: BAC, AMAT, AAPL, S, SYY
Weekly Market Wrap: August 7, 2015
Related symbols: SUNE, BAC, CHK, GRPN, AAPL
Weekly Market Wrap: July 31, 2015
Related symbols: BAC, MU, AAPL, SUNE, FB
Week Ahead Market Report: June 8, 2015
Related symbols: BAC, FTR, AAPL, INTC, MNKD
Week Ahead Market Report: May 18, 2015
Related symbols: BAC, AAPL, VALE, T
Week Ahead Market Report: May 4, 2015
Related symbols: BAC, AAPL, MSFT, ICLD, NOK
All videos » |
Stock market definitions »
Jakks Pacific Cuts Forecast on Disappointing Sales
| Market News Video | Copyright © 2008 - 2016, All Rights Reserved
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.