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Jakks Pacific expects 2017 net loss due to Toys 'R' Us bankruptcy
September 20, 2017 / 5:50 PM / a month ago

Jakks Pacific expects 2017 net loss due to Toys 'R' Us bankruptcy

Sept 20 (Reuters) - Toy maker Jakks Pacific Inc said it expects to report a net loss in fiscal 2017 due to charges related to the bankruptcy of Toys ‘R’ Us Inc.

Jakks, whose uninsured claims from the retailer amount to less than 3 percent of its outstanding receivables as of Sept. 18, said it does not expect long-term material impact from the Toys ‘R’ Us bankruptcy.

Jakks shares were up 9 percent at $3.10 in afternoon trading on Wednesday. (Reporting by Gayathree Ganesan in Bengaluru)

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