Lego thrives

A physical toy, a family business – isn’t it heartening to see a company like Lego doing so well? BBC News:

Profits increased by 4% to 10.8bn Danish kroner (£1.2bn) and sales were up 4% to 36.4bn Danish kroner.

That was a rebound from 2017, when Lego reported its first fall in sales and profits for 13 years. It blamed too much stock in stores and warehouses.

Star Wars, Harry Potter, Ninjago and Jurassic World were its best sellers.

“We set out with one aim in 2018, to stabilise the business,” said chief executive Niels Christiansen.

“Our underlying mission – what the family [which owns the business] wants – is to get Lego out to as many kids as possible,” he said.

Its growth in market share in all major markets comes at time when toy retailers have been struggling, illustrated by the collapse of Toys R US. This reduces outlets for sales of Lego, which is the world’s biggest toymaker when measured by sales.