Lego sales increase while other toy makers struggle
Publishing timestamp: 2023-08-30 03:00:01
Summary
Lego has seen a 1% increase in revenue during the first six months of 2023, while its publicly traded competitors have reported double-digit declines. Lego's diverse product line and ability to cater to both kids and adults have helped it outperform the industry. Despite macroeconomic pressures and higher costs, Lego has managed to offset some expenses and expects to continue growing. The company's strong brand, new product releases, and expansion into new markets, particularly China, have contributed to its positive performance.
Sentiment: POSITIVE
Tickers: HAS, MAT, FNKO, JAKK,
Keywords: funko inc, toys, business, business news, lego, breaking news: business, hasbro inc, earnings, mattel inc, jakks pacific inc, movies, entertainment, life,
Source: https://www.cnbc.com/2023/08/30/lego-earnings-revenue-rises-in-first-half.html