Lego Sales Hit Brick Wall, Sheds 8% of Global Workforce – Wall Street Journal (subscription)

Lego A/S said sales of its plastic toy bricks slowed sharply in the first half of the year, marking its first revenue decline in 13 years and triggering plans for 1,400 job cuts.

The Billund, Denmark based toy maker said half-year sales fell 5% from the year-ago period, after a big marketing push to bolster growth in large but mature markets like the U.S. failed to bear fruit. Like rival Mattel Inc., the privately held company is grappling with competition from smartphone apps and videogames. While it has been modernizing…

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