The most famous characters of almost all time may soon disappear
This is serious and not a joke at all. The company Funko is involved in a serious economic crisis which could lead to its disappearance soon. It seems unthinkable that a company making billions a year worldwide could go to hell but folks, whatever goes up in the end eventually comes down and that could be the end of the beloved numbers FunkoPOP.
How can we explain this? What is going on? What will be the future of Funko POP? Well the future looks pretty dark as they point from the middle ICV2 Since the North American company is going through an incredible economic crisis which I will tell you about below:
And Funko?
- Funko recorded losses for the fourth quarter and all of 2022
- It is planned to reduce the workforce and garbage inventory to change things
- Things got complicated in the third quarter, when stocks almost doubled
- The bone margins have shrunk and the company encountered problems in its new distribution center
- Brian Mariotti, returned as CEO in December, replacing Andrew Perlmutter
- Announcing the Hiring of Former Walmart.com CEO Steve Nave as COO and CFO
- The solution to this crisis will be horrific, including a reduction 10% in the workforce
- Further cost reductions and the destruction of 30 to 36 million dollars overstock
- The fourth quarter loss was $46.7 million
- The new distribution center Arizona is so overwhelmed with inventory
- Fourth-quarter U.S. sales decreased 4.7% to $241 million from $253 million in the same period a year ago
Will this be the company’s farewell?
Well, not necessarily, if the measures chosen to take over the management of the company work, there shouldn’t be a problem, but if it doesn’t work, the decline is guaranteed. It still seems unbelievable to me that a company making so many millions could go to hell…