The toys get thrown in the trash
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The Trend of the Collectibles Market in the 2022-23 Retail Toy Industry: A View from An Insider’s Perspective
The company plans to eliminate some of the inventory in the first half of next year to cut down on fulfillment costs. The write down is expected to be around $30 to $36 million.
The company reported a loss of almost $47 million in the last quarter of the year, worse than the $17 million profit in the same time period the previous year. Apart from dumping inventory, cost-saving measures will include a 10% cut of its workforce, company executives said on an earnings call with investors on Wednesday.
“I was a bit surprised because the collectible market is one of the big stories for 2022. She told NPR that the Collectibles were up 24%. “That’ll include any other types of action figure collectibles as well. But Funko, of course, is the biggest player in that space.”
At the same time, she adds, that jump still marks a slowdown when compared to the avid interest in collectibles seen just a few years ago. The “kidult” market, consisting of toys aimed at ages 12 and up, has seen immense growth. The comfort of nostalgia and relief from stress were some of the reasons for grownups to buy toys and collectibles.
“Adults are going to continue to be interested in collectibles,” she said. It will take some time before all the new buyers go away, because there are too many that are buying into these categories.
A Comment on Mariotti’s ‘Monte Carlo simulations of real-time macroeconomic effects in the CMB’ by J. M. Mariotti
Mariotti said that it was obvious on the last earnings call of the business and operations hitting an inflection point. A combination of macro factors and Funko specific issues have disrupted our financial and operating performance.
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