Lego has demonstrated resilience in the face of a declining toy market, achieving a revenue increase of 2% in 2023 despite challenges such as trade-downs and a pullback in China. This growth, albeit modest, marks Lego's slowest in seven years, yet the company has managed to outpace its rivals and build market share. The CEO of Lego highlighted the company's 'very, very strong' progress in the U.S. market, attributing part of its success to innovative attractions and retail expansions, such as the life-sized Ferrari 296 GTS made of Lego bricks unveiled at Legoland Florida's new Ferrari Build and Race attraction, and the opening of a new Bricks & Minifigs store in Taylorsville. Additionally, Barnes and Noble credited Legos, among other factors, for its growth, signaling the enduring popularity of Lego products. However, the company also faced a downturn in profits, underscoring the broader challenges within the toy industry.
Lego Builds Market Share as Ever-Popular Toy Bricks Defy Demand Drop https://t.co/Qti8R2VpD1
Lego steams ahead despite struggling toy market https://t.co/QiIQ7V1ra2
Lego hit by slowest growth for seven years but still outpaces rivals https://t.co/lKeGO1QJVH via @ft
Lego profits fall as toy market slumps https://t.co/REVJkQlrqK
Lego revenue grows 2% in 2023, as CEO hails 'very, very strong' U.S. progress https://t.co/Bf2Ewts2v4
Lego revenue ticks higher in 2023, despite trade-downs and China pullback https://t.co/dHK7y9Lw5a
Absurdly low sum on EUR 190b (a sum that includes a lot of dollars, pounds and other high yielders), let alone the EUR 260b in immobilized assets "The latest plans would provide between €2bn and €3bn to Ukraine this year, depending on interest rates, the officials said"
Barnes and Noble sees growth thanks to Taylor Swift, Legos, and return to old-school sales tactics. https://t.co/X1xIfB8THZ
A new Taylorsville Bricks & Minifigs store is now open so ... LEGO!! @kbontv has the story: https://t.co/rFHbKICGl6
A new Taylorsville Bricks & Minifigs store is now open so ... LEGO!! Karah Brackin has the story: https://t.co/rFHbKICGl6
Growing up in Denmark building Lego ⏩ Building the Lego version of the W14 you drove in two FP1s in 2023 🖤
Legoland Florida unveiled a life-sized Ferrari 296 GTS made of Lego bricks in their new Ferrari Build and Race attraction. https://t.co/tgSZIprAKF