Lego sales are surging during the pandemic

  • 📰 CNN
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 95%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Add Lego to the list of companies that have benefited from people spending more time at home.

The Danish toy maker said Wednesday that sales jumped 14% in the first half of 2020 compared to the same period last year. CEO Niels Christiansen pointed to investments in e-commerce as crucial during a period in which retail stores where shut. Lego's operating profit rose 11% to $622 million as a result.These businesses are making more money because Americans are staying homeIt's not just Lego.

Read MoreOn the other hand, toy conglomerates like Mattel and Hasbro have struggled. These companies have cited manufacturing and distribution issues tied to the pandemic as big roadblocks in their most recent quarters.5 Lego challenges to make your stay-at-home time fly"We entered the second quarter with extensive retail closures and distribution challenges and had to absorb a full quarter of Covid-19 impact," Mattel CEO Ynon Kreiz said in a statement in July.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

الانم یه حرومزاده اومده و یه تیکه از زمینمون رو دزدیده و مرده بوگندوی خودش رو توش دفن کرده...حرومزاده های زمین خوار...با تمام رهبران و مردم این دنیا و امامان حرومزاده هستم...در ضمن من زن علیتون رو هم بد جور گاییدم و خودش کیف میکنه از این گاییدنش...

Can Baron make a White House with Legos, like his NIECES or NEPHEWS WHY DO WE HEAR NOTHING ABOUT THIS CHILD in THE WHITE HOUSE?

Honestly I’m okay with this though. Less tech, more manipulative and building and creating is way better for kids than the instant gratification of an iPad

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Zoom Turns Record Profit Thanks To Coronavirus ShutdownsZoom has reported higher sales and profit in the 3 months from May through July than it did in all of 2019. The company's shares surged 25% in after-hours trading on Monday. zoom did covid/11 Capitalism! I still want to know... What ever happened to Skype? They were the verb for video calling for a decade, then COVID hits and they're gone.
Source: NPR - 🏆 96. / 63 Read more »