LEGO Prices Drop After Company Reports ?Too Much? Stock in Warehouses and Stores
In its 2017 annual report, the LEGO Group has announced a decline in revenue for the first time in 13 years. But fret not brickheads ? this news has already led to a reduction in prices, and may continue to do so moving forward until the company can unload its excess stock.
© Flickr user <a href='http://https://www.flickr.com/photos/curtismchale/16306436574'>curtismchale</a>. Licensed under CC BY-SA 2.0
In its 2017 annual report, the LEGO Group has announced a decline in revenue for the first time in 13 years. But fret not brickheads ? this news has already led to a reduction in prices, and may continue to do so moving forward until the company can unload its excess stock.According to LEGO, the poor 2017 performance was a result of the company spreading itself too thin by branching out into movie production and other non-toy products, and not spending enough time promoting its bread and butter products.As a result, ?too much? stock has been left in warehouses and on store shelves, which only exasperated sales issues."There wasn't enough room to get 2017 toys into the stores, and the toy trade is driven by newness," a LEGO spokeswoman told the BBC.LEGO has countered this issue by dropping prices on existing stock, a measure that has helped move product off shelves and get sales back on track, but do little to counter a reduced revenue stream. Currently, 117 products are listed as ?on sale? on the company?s online store. These de...
© Flickr user <a href='http://https://www.flickr.com/photos/curtismchale/16306436574'>curtismchale</a>. Licensed under CC BY-SA 2.0
In its 2017 annual report, the LEGO Group has announced a decline in revenue for the first time in 13 years. But fret not brickheads ? this news has already led to a reduction in prices, and may continue to do so moving forward until the company can unload its excess stock.According to LEGO, the poor 2017 performance was a result of the company spreading itself too thin by branching out into movie production and other non-toy products, and not spending enough time promoting its bread and butter products.As a result, ?too much? stock has been left in warehouses and on store shelves, which only exasperated sales issues."There wasn't enough room to get 2017 toys into the stores, and the toy trade is driven by newness," a LEGO spokeswoman told the BBC.LEGO has countered this issue by dropping prices on existing stock, a measure that has helped move product off shelves and get sales back on track, but do little to counter a reduced revenue stream. Currently, 117 products are listed as ?on sale? on the company?s online store. These de...
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