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.
Analyst Moves: AMAT, ARUN, DE
Related symbols: AMAT, ARUN, DE, GS
Analyst Moves: NOC, GM, GILD
Related symbols: NOC, GM, GILD, CS, C, UBS
Analyst Moves: WSM, LTD, ADSK
Related symbols: WSM, LTD, ADSK, BAC, JEF, UBS
Friday Sector Leaders: Education & Training Services, Auto Parts
Related symbols: COCO, CECO, XIDE, AXL
Friday Sector Laggards: Precious Metals, Rental, Royalty Trusts
Related symbols: AG, ANV, WHX, ECT
Thursday Sector Leaders: Shipping, Education & Training Services
Related symbols: EGLE, GNK, COCO, BPI
Friday's ETF with Unusual Volume: IYK
Related symbols: IYK, F, TSLA, GT, THS
Friday's ETF Movers: PSCM, PSAU
Related symbols: SWC, KRA, ANV, NGD, PSAU, PSCM
HYG, RUSS: Big ETF Outflows
Related symbols: HYG, RUSS
Daily Dividend Report: AET, DV, RWT, BGS, WMB
Related symbols: AET, DV, RWT, BGS, WMB
Daily Dividend Report: SYY, VTR, HIG, ESS, XEC
Related symbols: SYY, VTR, HIG, ESS, XEC
Daily Dividend Report: COH, STT, WDC, KSS, DPS
Related symbols: COH, STT, WDC, KSS, DPS
Weekly Market Wrap: May 17, 2013
Related symbols: WMT, DE, M
Weekly Market Wrap: May 10, 2013
Related symbols: WFM, TSLA, DIS, EA
Weekly Market Wrap: May 3, 2013
Related symbols: PFE, VLO, MA, MGM
Week Ahead Market Report: May 13, 2013
Related symbols: A, CSCO, AMAT, ADSK
Week Ahead Market Report: May 6, 2013
Related symbols: BRK.B, ARCC, DTV, NWSA, PCLN, PSA, SLW
Week Ahead Market Report: April 29, 2013
Related symbols: OSK, TRLA, MRK, ANR, SE
All videos » |
Stock market definitions »
Jakks Pacific Cuts Forecast on Disappointing Sales
| Market News Video | Copyright © 2008 - 2013, 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.