** charts after earnings **
JAKKS Pacific, Inc. (JAKK) reported first-quarter 2021 results, wherein the top and the bottom line beat the Zacks Consensus Estimate. The company’s net sales topped the Zacks Consensus Estimate for the fourth straight quarter while earnings topped estimates for the third consecutive quarter. Following the results, the company’s shares moved up 9.6% during after-hour trading session on Apr 29.
Nonetheless, the company stated that it is making significant progress in operating performance on the back of cost-saving initiatives and improved inventory management. The company also disclosed that it has delivered the best first-quarter operating results since 2015, with significant improvement in sales, gross margin, adjusted net income and adjusted EBITDA. Notably, the company drove double-digit sales increases in all of its toy divisions: Boys, Girls and Seasonal. Also, the company anticipates more people to return to the normal pattern of shopping, gift-giving and celebrating Halloween.
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