Translating…
Lego says its earnings rose closing year and that it has up to now evaded indispensable grief from the contemporary coronavirus
By
JAN M. OLSEN Linked Press
March 4, 2020, 10: 02 AM
2 min read
COPENHAGEN, Denmark — Lego acknowledged its earnings rose closing year and that it has up to now evaded indispensable grief from the contemporary coronavirus and plans to abet opening stores in China, the epicenter of the outbreak.
After the Danish toy company posted Wednesday a 3% upward thrust in obtain profit to eight.3 billion kroner ($1.2 billion), CEO Niels B. Christiansen acknowledged the group is weathering the virus outbreak’s disruption to present chains.
“Within the fast speed, it is exhausting to claim, nonetheless it looks we’re no longer that inclined, mainly on narrative of we abolish locally,” Christiansen informed The Linked Press.
Lego produces in Mexico for its American markets, in China for its Asian market and the manufacturing for Europe comes from factories within the Czech Republic and in Denmark.
Christiansen acknowledged the producer of the successfully-known colored constructing blocks became sticking to its understanding to originate a further 80 stores in round 20 cities in China, which “stays a strategic express market.”
Lego has 570 stores across the sphere carrying the toymaker’s logo.
On prime of that, Christiansen acknowledged Lego had developed its e-commerce presence on accomplice platforms and no longer too long ago renewed its partnership with China’s tech enormous Tencent as phase of plans to purchase shoppers and customers.
Lego, which is Essentially based in Billund, western Denmark, and is the privately held, acknowledged its 2019 fat-year earnings grew 6% to 37.9 billion kroner ($5.7 billion). That is “despite indispensable investments in long-term express initiatives,” the CEO acknowledged. Lego saw client gross sales globally grew 5.6% in 2019 when put next with 2018.
“We now contain seen a particular express in gross sales whereas others had a unfavourable express,” Christiansen acknowledged.
User gross sales grew in all markets: by single digits in The United States and western Europe and double digits in China.
