expired Posted by savvyshopper7903 • Mar 6, 2023
Mar 6, 2023 5:51 PM
Item 1 of 5
Item 1 of 5
expired Posted by savvyshopper7903 • Mar 6, 2023
Mar 6, 2023 5:51 PM
Funko Pop! Something Wild! Star Wars: The Mandalorian Card Game w/ Grogu Figure $4.25 + Free Shipping w/ Prime or on $25+
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The maker of the Funko Pop! collectibles plans to toss millions of dollars' worth of its inventory, after realizing it has more of its pop culture figurines than it can afford to hold on to.
Waning demand for the pop culture vinyl toys, combined with a glut of inventory, is driving the loss as the company hits a financial rough patch.The inventory has filled the company's warehouses to the brim, forcing Funko to rent storage containers to hold the excess product. And now, the product is worth less than it costs to keep on hand.
Funko said that by the end of last year, its inventory totaled $246 million worth of product — soaring 48% percent from a year earlier.
"This includes inventory that the Company intends to eliminate in the first half of 2023 to reduce fulfillment costs by managing inventory levels to align with the operating capacity of our distribution center," Funko said
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