Mar 6, 2018

Everything isn't awesome: Lego sales fall

Lego has reported its first annual drop in sales and profits for 13 years. Lego Group chief executive Niels Christiansen said there was "No quick-fix" and it would take the firm "Some time" to grow long-term. The weak performance comes after Lego cut 1,400 jobs worldwide in September, saying its business needed a "Reset". In September, Lego said its half-year results had suffered because it had stretched itself too thin by diversifying into products that were not toys, such as the Lego movies. Lego chairman Jorgen Knudstorp said at the time that adding complexity to the company had made it harder for the toymaker to grow further.

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