The Danish toy manufacturer said on Wednesday that sales in the first half of 2020 were up 14% compared to the same period last year. CEO Niels Christianen pointed out as crucial during the period of investment in e-commerce in which retail stores were closed.
Lego’s operating profit rose 11% to 22 622 million.
It’s not just LEGO. Game makers are on the tears because social distance restrictions encourage many people to find new ways to spend time.
Nintendo’s operating profit rose 428% in its most recent quarter as sales of the Switch console and “Animal Crossing” game continued to rise. The company’s stock has risen 35% this year.
Toy metal and, on the other hand Hasbro (Is) Have struggled. These companies have cited epidemic-related manufacturing and distribution issues in their most recent quarter.
“We entered the second quarter with extensive retail closures and distribution challenges and had to embrace the full quarter of the Covid-19 impact,” he said. Metal (Matt) CEO Yon Kreiz said in a statement in July. Between April and June, the Barbie-maker saw a 15% drop in net sales compared to 2019.
Hasbro’s stock is down 22% year-over-year, while metal is down 18%. Companies are now looking forward to the holiday season, which they hope can help build some lost ground.
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