LEGO “on track” as sales grow 1% in first half of 2018
Consumer sales for the LEGO Group grew 1 per cent for the first half of the year ending June 30th, 2018.
“Our plan for 2018 is to stabilise the business and invest to create growth in the longer-term,” said the LEGO Group’s CEO, Niels B Christiansen.
“These results show we’re on track and we are encouraged by the early progress. They are due to strong execution by our market teams and compelling innovation, including the successful launches of new products such as the LEGO Creator Roller Coaster, the Jurassic World range and the LEGO Technic Bugatti Chiron. While we are encouraged by the progress we are making, there is more to do, and it will take time to return to sustainable growth.
“We are especially satisfied with our performance given the challenges of the changing retail landscape, including the closure of Toys R Us in the US, UK and Australia. We are well positioned to capitalise on new opportunities to delight consumers and shoppers across all channels and are particularly encouraged by growth from activities across digital and e-commerce platforms. We will continue to work closely with our retail partners and in LEGO-branded retail channels to create great experiences for consumers whenever and wherever they want to shop or play.”
Performance in established markets was stable compared with the same period in 2017. In constant currency, revenue in western Europe grew low single digits, while revenue in North America declined slightly, in part due to the changes in the retail landscape. China continues to perform strongly, with revenue growing double-digits in the first six months of the year.
During the first half of the year, the top-performing themes were LEGO Technic, LEGO Ninjago, LEGO Creator and LEGO Classic.