Lego Grabs Bigger Share of Declining Toy Market
September 1, 2023
Lego has managed to increase its market share in the toy industry during the first half of the year, even as the overall toy market declined. The Danish toymaker reported a 1% rise in sales to 27.4 billion Danish crowns ($4 billion) for the first six months of 2023, despite a challenging period for the toy industry. Despite the growth, the company’s CEO, Niels Christiansen, adjusted the sales growth forecast for the year to “somewhere in the single-digits,” down from the previous high single-digit percentage forecast.
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