Shares of JAKKS Pacific, Inc. JAKK have surged 119.9% so far this year, against the industry’s decline of 16.9%. The company has been benefiting from strategic acquisitions, a solid international footprint, a focus on innovation and collaborations with popular brands and movie franchises. However, high debt and coronavirus woes persist.Growth DriversJAKKS Pacific has emerged as a diversified consumer products company buoyed by a string of acquisitions over the years. We consider the company’s ability to successfully identify, close and integrate acquisitions as one of its primary strengths. JAKKS Pacific has collaborations with Disney, Skechers, Nickelodeon, Cabbage Patch Kids and Chico to manufacture toys and merchandise related to these brands.The company has been focusing on new products launch to drive growth. During the third quarter, the company initiated a new doll program (in the United States) in association with Disney and Target. Branded as Disney ily 4EVER, the fashion line comprises 18 installs or related accessories inspired by Disney stories and caricatures. This includes the likes of Minnie Mouse, Tinkerbell, Stitch, Ariel, Elsa, Rapunzel and more.Going forward, the company plans to launch the Encanto product line in the girls division, thereby consisting of fashion dolls, large dolls, playsets, dress-up and role-play. The pipeline also includes an extension of its Perfectly Cute doll and accessory line at Target, a new launch of toys and collectibles based on Haribo (a global gummy candy brand). In the boys division, the company intends to work on the Black and Decker product line, and the re-release of Creepy Crawlers. JAKKS Pacific intends to launch an Indoor Trampoline line along with PAW Patrol and Disney's Minnie Mouse SKU’s.JAKKS Pacific is focused on diversifying its footprint outside the United States. In sync with its endeavors, the company has opened sales offices and expanded distribution agreements for its products. Its partnership with Meisheng is expected to result in robust growth in Asia. After launching Tsum Tsum in the key international markets like Latin America and Asia, the company plans to expand its distribution in new territories in the days ahead. The expansion initiatives are likely to strengthen its international presence and customer base.The Zacks Rank #3 (Hold) company realized the importance of online retailing and thus shifted focus to aggressively boosting online sales. Over the past few quarters, JAKKS Pacific has been committed to creating digital experiences for online shoppers such as videos, 360-degree product images and enhanced web pages. It continues to modify its sales and logistics capabilities in order to capitalize on this continued shift to online.Image Source: Zacks Investment ResearchConcernsThe coronavirus outbreak has been wreaking havoc globally. It comes as no surprise that the Toys - Games – Hobbies industry has been grappling with the situation and JAKKS Pacific isn’t immune either. The company’s operations were negatively impacted by the pandemic-induced supply chain disruptions in third-quarter 2021. Although the company has undertaken significant measures to overcome the same, extra transportation and storage expenses remain headwinds. The company is actively monitoring the global situation and the impact of the same on its financial condition, liquidity, operations, suppliers, industry, and workforce.A strong balance sheet helps a company tide over a crisis scenario. As of the end of Sep 30, 2021, the company’s long-term debt was $93.9 million compared with $95.7 million as of Jun 30, 2021. Although the company’s debt level declined sequentially, it ended third-quarter 2021 with cash and cash equivalent of $25.9 million, which may not be enough to manage the high-debt level.Key PicksSome better-ranked stocks in the Zacks Consumer Discretionary sector are Electronic Arts Inc. EA, Bluegreen Vacations Holding Corporation BVH and Century Casinos, Inc. CNTY.Electronic Arts carries a Zacks Rank #2 (Buy). The company has a trailing four-quarter earnings surprise of 11.7%, on average. Shares of the company have increased 6.7% in the past month. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for Electronic Arts’ current financial-year sales and earnings per share (EPS) suggests growth of 24% and 22.3%, respectively, from the year-ago period’s levels.Bluegreen Vacations flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 695%, on average. Shares of the company have soared 159.7% so far this year.The Zacks Consensus Estimate for Bluegreen Vacations’ current financial-year sales and EPS indicates growth of 27.5% and 199.3%, respectively, from the year-ago period’s levels.Century Casinos carries a Zacks Rank #2. The company has a trailing four-quarter earnings surprise of 758.9%, on average. Shares of the company have surged 99.4% so far this year.The Zacks Consensus Estimate for Century Casinos’ current financial-year sales and EPS suggests growth of 26.9% and 146.6%, respectively, from the year-ago period’s levels. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JAKKS Pacific, Inc. (JAKK): Free Stock Analysis Report Electronic Arts Inc. (EA): Free Stock Analysis Report Century Casinos, Inc. (CNTY): Free Stock Analysis Report Bluegreen Vacations Holding Corporation (BVH): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research