Lego revenue grows 2% in 2023, as CEO hails 'very, very strong' U.S. progress

Lego reported its full-year 2023 results, stating a 2% growth in revenue compared to the previous year. The company’s CEO discussed the challenges faced during the year and emphasized their plans to remain relevant and appealing to children in the long term. Despite overall growth, operating profit slightly declined due to increased spending on strategic initiatives. Lego experienced growth in consumer sales, particularly in the U.S. and central and eastern Europe, but struggled in China. However, Lego sees growth potential in China and plans to open new stores across the country. The company also highlighted its popular product offerings and collaborations with popular brands and video games to engage with children.