Lego has hit a brick wall in the U.S.
After almost a decade of double-digit sales growth, the world’s second-largest toy maker said revenue rose just 6 percent worldwide last year, after a big marketing push in the U.S. failed to lift stalled sales there.
Lego’s woes are centered on the U.S., its largest market. In September, it blamed a slowdown in marketing spending, motivated by supply chain bottlenecks, for flat half-year sales in the U.S. Lego expanded its factory in Monterrey, Mexico, to address what it figured would be higher demand in the second half of the year. But despite a significant jump in marketing expenses, sales didn’t grow.
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