The Danish toy manufacturer said on Wednesday that sales increased by 14% in the first half of 2020 compared to the same period last year. CEO Niels Christiansen pointed out that investing in e-commerce is important over the following periods: A closed retail store
As a result, Lego’s operating profit increased by 11% to $622 million.
Of this Not only lego
. Game makers shed tears as social distancing restrictions have led many to find new ways to spend their time.
Nintendo’s operating profit increased 428% in the most recent quarter, with the Switch console and “Animal Crossing” games continuing to drive sales. The company’s stock price rose 35% this year.
On the other hand, toy giants like Mattel Hasbro (HAS)
I had a hard time. These companies have cited pandemic-related manufacturing and distribution issues as a major hurdle during the recent quarter.
“We entered the second quarter with widespread retail closures and distribution issues and had to absorb a full quarter of the Covid-19 impact.” Mattel (mat)
CEO Ynon Kreiz said in a statement last July. Between April and June, Barbie Makers saw a 15% decline in net sales compared to 2019.
Hasbro’s share price fell 22% year-on-year, while Mattel fell 18%. The company is on the verge of holiday season and hopes to make up for the lost land.