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Newsweek
7 days ago
- Business
- Newsweek
Funko Pops Are Getting More Expensive Under Trump
Produced [by our journalists] with financial support from an organization or individual that did not approve or review the work. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Funko, the company behind the collectible POP! figurines, have increased prices this year, attributing this—and its broader financial struggles—to the trade policies of the Donald Trump administration. Funko announced earlier this year that, starting in July, it would be increasing the retail price of its flagship POP! dolls to $14.99. This compares to $11.99 in 2024, according to online collectibles store Boxed Vinyl. Funko said that this was in part due to "rising tariffs" which had "significantly" pushed up its costs. Last week, the company posted a weak set of results for the second quarter, again blaming these price adjustments, as well as its decision to cut around 20 percent of its workforce, on the tariffs. Newsweek has reached out to Funko via email for further comment, and to the U.S. Department of Commerce for a response. Why It Matters While rising tariffs on the majority of America's trading partners promise to reshape most aspects of the economy, toymakers in particular are expected to feel an outsize impact given the industry's reliance on imports from China. Many major brands besides Funko—including Hasbro and Barbie-maker Mattel—warned earlier this year that they would need to raise toy prices to mitigate these effects. The 90-day trade truce agreed between the U.S. and China in May, and extended again this week, eased some of these concerns, but industry representatives remain fearful of the impacts. What To Know Last week, Funko reported $193.5 million in sales for the second quarter which ended June 30, marking a 22 percent decline from $247.7 in the comparable period of 2024. During the quarter, which interim CEO Mike Lunsford said was "impacted by a dynamic and uncertain tariff environment," Funko also swung to a net loss of $41 million from a $5.4 million net income last year. In a subsequent earnings call, Chief Financial Officer Yves LePendeven said that tariffs had led to a pause in U.S.-bound orders from China, which in turn disrupted second-quarter sales. Funko Pop! vinyl figures are displayed during ToyCon at the Eastside Cannery Casino Hotel on March 13, 2020 in Las Vegas, Nevada. Funko Pop! vinyl figures are displayed during ToyCon at the Eastside Cannery Casino Hotel on March 13, 2020 in Las Vegas, said that the company had "moved quickly" during the quarter to minimize the impact of tariffs. These efforts included the price increases, a "workforce reduction of approximately 20 percent," and efforts to shift more of its production out of China and into Vietnam and other sourcing countries. Having fully implemented the price increases and returned to ordinary shipping schedules, LePendeven said the company expects "to fully offset the financial impact of incremental tariffs within the current year." However, he added that "continuing uncertainty around global tariff policies" made it challenging to provide a concrete financial forecast for the remainder of 2025. According to recent analysis by economic research firm John Dunham & Associates, published by The Toy Association last week, toy imports have declined significantly this year. Total imports fell 31 percent year-over-year in June, driven by a 47 percent drop in Chinese shipments. The Toy Association, a trade organization representing U.S. toymakers, said the figures "raise concerns about potential product shortages later in the year if the trend continues." What People Are Saying Mike Lunsford, Interim CEO at Funko, said: "Looking ahead, we expect headwinds to moderate and our business to improve as a result of the actions we've taken to cut costs, diversify product sourcing and adjust prices. The team is focused on stabilizing the business, accelerating execution on growth initiatives and unlocking Funko's long-term potential." Kathrin Belliveau, chief policy officer at The Toy Association, said this week: "Tariffs are creating serious headwinds for the toy industry and are disrupting the flow of toys into the U.S. market ahead of the crucial holiday season. Tariffs don't just affect companies; they ultimately impact the choices and prices American families face. Without relief, we risk seeing fewer products on store shelves, higher costs for families, and lasting strain on the businesses that bring play to children." What Happens Next? While Funko said that ongoing changes in the trading environment make providing a formal outlook challenging, it expects its financial performance in the second half of the year to mark an improvement compared to the first six months. However, it still expects net sales to decline by "high single-digits" compared with the second half of 2024. U.S. toy sales were solid in the first half of 2025, according to market research firm Circana, with dollar sales up by 6 percent year-over-year and units sold up 3 percent. The toy industry is showing strength during this period as consumers are holding their breath and waiting for higher prices to kick in," said Juli Lennett, vice president and industry adviser for Circana's toy division. "This resilience is especially important as we set our sights on the holiday season and what categories are critical for the consumer to bring joy to their loved ones."
Yahoo
24-04-2025
- Business
- Yahoo
Shopping indie: How those at local bookstores say it helps the community
(WKBN) — Saturday marks an important day for some small local businesses — it's Independent Bookstore Day. The national day of recognition spotlights the importance of indie bookstores and the role that they play in the community. Read next: Local greenhouse still blooming after 30 years April 26 marks the 12th anniversary of Independent Bookstore Day, celebrated by bookstores and booklovers alike. It's hosted by the American Booksellers Association, a 125-year-old non-profit trade organization that supports over 2,800 bookstores across the country, offering education regarding business practices, providing an e-commerce platform, and taking part in advocacy work. 'In many ways, it's honoring the legacy of Record Store Day, which has been so popular in the record industry, and it's really an opportunity for all of these independent bookstores across the country to have a day where they celebrate their communities and they celebrate their place in their communities, and their communities get to celebrate them,' said Allison Hill, CEO of the association. Two local participants of Indie Bookstore Day include Leana's Books & More and POP! Art Books Culture. Both are offering 20% sales on all products in celebration — with POP!'s sale running Saturday and Leana's running both Saturday and Sunday. Over in Greenville, Boundless Books will host a soft-opening in recognition of the day's importance. A complete map of participating bookstores is available on While Leana Hillard, owner of Leana's Books & More, says it's not easy running an indie bookstore, it is also great. 'We try to give back to the community as much as we can, because that's the only reason we're here: is because of the communities,' Hillard said. When visiting local bookstores, shoppers are getting far more than simply a physical book. 'One thing that separates the indie bookstores from the big box [stores] is we do a lot of things for the community,' Hillard said. 'We have book signings; there's no charge for the authors. We set up the tables, [and] they sell their own books so they can make 100%, and our hope is they're bringing in people to see our stores.' Both POP! and Leana's go beyond a physical store — they're community spaces offering respective book clubs, hosting author groups and much more. And not only are shoppers supporting the local stores, but also local authors. 'There's a lot of really great authors that have come through here, and I've yet to have somebody come back and say, 'You know what, I really didn't enjoy this book.' All of the local authors are fantastic authors and we've had really, really good luck with them,' said Craig Duster, owner of POP!. Over 1,200 indie bookstores have opened in the U.S. over the last five years, but Hill says despite the increasing number of stores and sales, it's more challenging than it has ever been to be an indie owner, with thin margins paired with rising costs. But supporting local stores will help keep money in a shopper's own community, Hill said. 'One thing is purely economic, that when you shop with an independent bookstore, about 29% of the revenue recirculates in the local economy,' Hill said. 'So that compares to say, Amazon and Barnes & Noble, in that it's about five times more than Amazon and over two times more than Barnes & Noble.' 'I think local big box stores have their purposes, and even online, major online retailers have their purposes, too, but for the most part, if you can shop local when you can, it keeps a lot of that money in the community,' Duster said. The U.S. Chamber of Commerce states the sales tax shoppers pay at these local spots supports the community's public schools, parks, roads, and sidewalks, as well as funds public service workers, like firefighters. Hill said in current times, when a lot of communities are seeing cuts, that type of revenue is especially important. 'I definitely think there are people who are very mindful of where they're spending their dollars right now and what kind of values they're supporting,' Hill said. 'There are people who really want to support, say their neighbors who have returned to their community to share books and make a difference, versus supporting a billionaire or an algorithm or a hedge fund, which is sometimes the alternative in the book world.' Hill emphasized the importance of supporting local stores, or else risk losing them. 'I think some of it is coming off the pandemic, too. I think we all lived through a period where we saw some of our favorite places close … and I think people really began to realize that we really have to support these local businesses or they won't be sustainable.' For those who may not want to leave the comfort of their favorite reading chair or are looking for something niche, there is an alternative to visiting indie bookstores in person. is a platform designed to support independent bookstores. 'It's financially helping the stores, it's raising visibility around shopping indie, it's providing a 'buy' button to a lot of media outlets who normally might have Amazon but now they have an indie alternative,' Hill said. Hill said in times where money is tight, it's not just a matter of how much you're spending, but also where you are spending it. 'I think there's a return to some values around supporting local and aligning your shopping with your values and connecting in a very human way that we're all really hungry for,' Hill said. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
05-04-2025
- Business
- Yahoo
Why Toy Stocks Like Hasbro, Mattel, and Funko Were Plunging Today
Shares of Hasbro (NASDAQ: HAS), Mattel (NASDAQ: MAT), and Funko (NASDAQ: FNKO) were getting crushed today as investors reacted to President Donald Trump's announcement of reciprocal tariffs last night. Consumer discretionary stocks are getting hit especially hard since many of these products are imported from abroad, and consumers don't need to buy them. Toys are an especially discretionary category so it wasn't surprising to see shares of Hasbro, Mattel, and Funko all falling sharply today. The S&P 500 finished Thursday down 4.9%, while Hasbro had lost 12.3%, Mattel was down 16.6%, and Funko had given up 18%. Of all the discretionary categories, toys may be the most vulnerable here, especially if the economy weakens and consumers tighten their spending even further. After all, toys are typically bought for children, who don't make a lot of purchasing decisions, and there are also ample substitutes for new toys, including used toys, games, or other forms of entertainment. The supply chains of all three of these companies seem vulnerable to the new round of tariffs, and the toy industry was already struggling prior to the trade war due to weak consumer spending and an extended hangover following the pandemic peak. According to Hasbro's annual report, the company makes its products principally in the U.S. and the Far East, including China, Vietnam, India, and Japan. Most of the company's products are made from basic raw materials like plastic, paper, and cardboard so moving production around or bringing it back to the U.S. may be easier than it is for some products, like cars. Hasbro also has a segment devoted to online games, which should be protected from tariffs. At Mattel, meanwhile, its primary manufacturing facilities are located in China, Indonesia, Malaysia, Mexico, and Thailand. The company sources raw materials from a wide range of suppliers, meaning raw materials shouldn't be a concern, though it is likely to have to absorb or pass along the cost of the tariffs, at least in the near term. Mattel has struggled for the last few years. Revenue fell by 1% in 2024 even as it shored up margins, so the timing of the new tariffs may be challenging for the business. Funko, best known as the maker of the POP! figurines, is much smaller than Hasbro and Mattel so it's the most vulnerable to an economic shock from tariffs or a possible recession. Like its peers, Funko makes most of its products outside the U.S., primarily in Vietnam and China, though it also manufactures in the U.S., Mexico, and Cambodia. The company also makes a majority of its sales from the U.S., and the popularity of its toys have been driven by fads at times, making Funko a risky stock to own even in good times. The health of the overall economy may be of a greater concern for these companies than the impact of tariffs. These companies do tend to sell low-priced goods so it will be easier for consumers to absorb a higher price than it would be on an expensive durable good. However, the toy sector was already struggling before the tariff announcement, and the weakening consumer sentiment puts the industry in a tough spot. Hasbro and Mattel have pursued brand licensing arrangements to leverage brands like Barbie into video entertainment, but the category leaders remain mostly dependent on toy sales. While the tariffs remain subject to negotiations, it seems likely that prices will go up in the category, which could test a consumer that's already struggling. Overall, it's not surprising that a sector that was already weak and vulnerable was hit hard by today's news. Before you buy stock in Hasbro, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Hasbro wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $676,774!* Now, it's worth noting Stock Advisor's total average return is 824% — a market-crushing outperformance compared to 164% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 1, 2025 Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool recommends Hasbro. The Motley Fool has a disclosure policy. Why Toy Stocks Like Hasbro, Mattel, and Funko Were Plunging Today was originally published by The Motley Fool Sign in to access your portfolio
