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Funko issues business update amidst COVID-19 pandemic

Company has withdrawn its 2020 financial guidance which was issued on March 5.

Funko has provided a business update amidst the COVID-19 Coronavirus pandemic.

Due to the heightened uncertainty and developments in the past week – including retail industry store closures, increased social distancing globally and evolving government mandates – the company is withdrawing its 2020 financial guidance which was issued on March 5, 2020.

It expects to provide a further update during its first quarter 2020 conference call.

Funko’s two retail locations have been closed until further notice, although its e-commerce platform – www.funko.com – remains fully operational.

“Our number one priority is the safety of Funko’s employees, local communities and partners worldwide,” stated Brian Mariotti, ceo at Funko. “We are grateful to our dedicated team members and remain confident in the strength of our Pop! platform and the diversity of our business model, which extends across licences, product categories, distribution channels and customers.

“While we are facing uncertain and unprecedented times, we are taking immediate actions to cut costs and mitigate disruption as we navigate this rapidly evolving situation.”

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