In our outdoor and seasonal division, we continue to work extremely close with ABG, meeting with retailers and sharing some of our potential collaborations. We have been working on iconic assortments of their properties, names like Element, Quiksilver, Roxy, Billabong [ph], Volcom, Forever 21, Juicy Couture, Sports Illustrated, and Prince, just to name a few. All customers coming through our showroom recently, were extremely impressed by the amazing new designs for Element, Volcom, and Billabong [ph] and Quiksilver skateboards, which will be at specialty and mass retailers in store and online. In 2025, we are expanding into branded roller skates, inline skates, volleyball, outdoor furniture, including chairs, umbrellas, and canopies, beach accessories, inflatable pool floats, foldable wagons, and an extensive line of dolls and doll accessories infused with fashion elements from Forever 21, Prince, Sports Illustrated, Roxy, and Billabong [ph].
When it comes to disguise, we have new product for a large number of new releases, the new Ghostbuster movie, the new Despicable Me, and Kung Fu Panda movies, and releasing this fall, “Wicked”. In addition to all the above, we have some new private label initiatives, some new seasonal product lines extensions from our foot-to-floor ride-on category, new play environments ranging from Ball Pits and tents to our new expansive SportsZone line inclusive of gaga pits, ladder baseball, skee ball golf, and cross-strike, to name a few. And we’re also bringing out some new indoor licensed jungle gyms, so keep an eye out for those. It’s a lot, we are extremely busy, but it’s the right kind of busy and we’re excited. We’re thrilled to see another great year coming together at JAKKS, capped as always by the upcoming Halloween and holiday season.
Thank you again for your interest in our company, and we look forward to meeting with many of our key stakeholders at licensing show next month in Las Vegas. Thank you, operator.
Operator:
Stephen Berman: Thank you, operator. So we actually have had received some questions via email, and we also have lined up calls right after this. But to address one of the questions with regards to authentic brands and Simpsons, the first half, or the second half of the year, we’re expanding into the specialty and collective retail markets, and then the full expansion of the ABG line from the element skateboards to the outdoor furniture to the canopies, really the breath of the line, hits spring, summer 2025. But we have the initial launch of skateboards coming into the fall this year. And really the biggest impact of the Simpsons line of product will jump into a tease during the fourth quarter, but the whole, call it rollout, hits in spring 25 and go through fall 25.
But we have the initial launch happening worldwide during probably fourth quarter, third, fourth quarter of this year, but the big impact will be in 2025. There was additional question regarding margin, and I’ll turn it over to John.
John Kimble: Thanks, Stephen. So there was a question asking us to unpack gross margin a little bit more. I think I went through that in some level of detail, even though it was perhaps a bit quick, but I think there’s a level of explanation in there if people want to go back and kind of sift through it a bit. But what I did want to speak to is, although on one hand, we certainly talked about seeing more pressure for price promotion and moving product lately and anticipate that lasting this year, it’s certainly the case that from a first quarter perspective, we saw a number of negative impacts on gross margin, which we think or hope are going to be unique to Q1. And so as we look forward into the rest of the year, especially with a backdrop that we’re always kind of working to sharpen the pencil on product margins, that’s what gives us a degree of confidence about what we said in that as much as this quarter’s results in that area weren’t anything that would be aspirational, that for the balance of the year, we think hopefully a lot of that kind of bad news is behind us in a, not exactly in a one-timey way, but in terms of over the long haul, sometimes things don’t break your way, and that we certainly had a little bit of that as we close out this quarter.
Stephen Berman: And with that, we have received some very nice communications through our emails. We’ll be addressing those during our investor calls right after this call. Thank you everybody for joining the call today. We look forward to speaking to you during our second quarter conference call and throughout some of the investor meetings we have coming up in the next few months. Thank you.
Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect.
