Funko Pop Dumps $30M of Bobbleheads

Funko Pop is sending thousands of collectible bobblehead merchandise, valued at roughly $30 million, to the dump, citing excess inventory and limited warehouse capacity. According to the maker of pop culture figures, the inventory was valued at $246.4 million by the end of 2022, an increase of 48% from the same period last year. A sales boom during the pandemic, when many consumers were stuck at home, gave the company a boost from a 49 percent decline in sales in the second quarter of 2020. Like many retail companies, it is now attempting to reduce costs by shedding excess inventory.