The Danish toy maker mentioned Wednesday that gross sales jumped 14% within the first half of 2020 in comparison with the identical interval final yr. CEO Niels Christiansen pointed to investments in e-commerce as essential throughout a interval through which retail shops the place shut
Lego’s working revenue rose 11% to $622 million in consequence.
It is not simply Lego
. Recreation makers have been on a tear as social distancing restrictions encourage many individuals to search out new methods to move the time.
Nintendo’s working revenue surged 428% in its most up-to-date quarter because the Swap console and “Animal Crossing” sport continued to drive gross sales. The corporate’s shares are up 35% this yr.
Then again, toy conglomerates like Mattel and Hasbro (HAS)
have struggled. These firms have cited manufacturing and distribution points tied to the pandemic as massive roadblocks of their most up-to-date quarters.
“We entered the second quarter with intensive retail closures and distribution challenges and needed to soak up a full quarter of Covid-19 impression,” Mattel (MAT)
CEO Ynon Kreiz mentioned in an announcement in July. Between April and June, the Barbie-maker noticed internet gross sales drop 15% in comparison with 2019.
Hasbro’s inventory is down 22% year-to-date, whereas Mattel is off 18%. The businesses are actually waiting for the vacation season, which they hope may also help make up some misplaced floor.