Legos Down
This news is a couple weeks old now, but I still think it's interesting enough to share.
A 13-year streak is over.........
Lego sales have dropped for the first time in 13 years. Annual revenue dropped 8% in 2017, the Danish company said Tuesday, ending a long streak of rapid growth powered by the success of its Star Wars products and "The Lego Movie."
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More........
The decline brings an end to thirteen years of growth, capped by 25% growth in 2015 and 6% growth in 2016. In a statement, Lego CEO Niels B. Christiansen said the decline was primarily in established markets and caused by excess inventory. A spokesperson added that the excess stock, which had to be sold cheaply, prevented new toys from hitting the market in a timely manner, saying “the toy trade is driven by newness.”
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Is this nothing but a 1-time blip?
Or a trend?
The loss of all those Toys R Us stores is definitely gonna be a strong headwind to battle here in 2018.
Grace & Peace & Love to you all -
Matt
