Lego revenue grows 2% in 2023, as CEO hails strong U.S. progress


In-store participation is greater than prior to the pandemic, Lego CEO says

The chief executive of Denmark’s Lego on Tuesday reflected on a tough year for the world’s largest toymaker, and outlined the firm’s long-term plans to stay relevant and “cool with kids.”

Lego said its 2023 revenue was 2% higher compared to the previous year, growing to 65.9 billion Danish krone (around $9.65 billion). This was in line with expectations, Lego said in a statement.

“It was a difficult year,” Lego CEO Niels Christiansen told CNBC. However, he said the company had “managed to take quite a bit of market share.”

The Danish toymaker said operating profit declined slightly from 17.9 billion Danish krone to 17.1 billion, noting that it had boosted spending on strategic initiatives…

Source cnbc.com

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