** FILE ** Production is seen at the Lego factory in Billund, Denmark, in this Sept. 19, 2005 file photo. The Danish toy maker is having a hard time keeping up with demand for its popular plastic building blocks as toy stores stack their inventories for the Christmas season, a company official said Tuesday. The Denmark-based group has been trimming its staff at home and abroad since starting a restructuring program four years ago. (AP Photo/Anders Brohus, POLFOTO, file) ** DENMARK OUT **

Too many bricks: Lego’s revenue and profit just crumbled

17%

Danish toymaker Lego posted its first simultaneous decline in revenue and profit since 2004. Sales dropped by 8% and profit dropped by 17% in 2017.

Published   |  Photo by AP Photo/Anders Brohus
** FILE ** Production is seen at the Lego factory in Billund, Denmark, in this Sept. 19, 2005 file photo. The Danish toy maker is having a hard time keeping up with demand for its popular plastic building blocks as toy stores stack their inventories for the Christmas season, a company official said Tuesday. The Denmark-based group has been trimming its staff at home and abroad since starting a restructuring program four years ago. (AP Photo/Anders Brohus, POLFOTO, file) ** DENMARK OUT **
17%

Lego’s annual financial results

** FILE ** Production is seen at the Lego factory in Billund, Denmark, in this Sept. 19, 2005 file photo. The Danish toy maker is having a hard time keeping up with demand for its popular plastic building blocks as toy stores stack their inventories for the Christmas season, a company official said Tuesday. The Denmark-based group has been trimming its staff at home and abroad since starting a restructuring program four years ago. (AP Photo/Anders Brohus, POLFOTO, file) ** DENMARK OUT **
17%

Lego chairman and former CEO Jørgen Knudstorp had warned of a slowdown because the company had become too big: “We have added complexity into the organization which now in turn makes it harder for us to grow further.”

** FILE ** Production is seen at the Lego factory in Billund, Denmark, in this Sept. 19, 2005 file photo. The Danish toy maker is having a hard time keeping up with demand for its popular plastic building blocks as toy stores stack their inventories for the Christmas season, a company official said Tuesday. The Denmark-based group has been trimming its staff at home and abroad since starting a restructuring program four years ago. (AP Photo/Anders Brohus, POLFOTO, file) ** DENMARK OUT **
17%

The company blamed its results on having excess inventory in shops and warehouses. CEO Niels Christiansen said there was “no quick fix” to Lego’s problems.

** FILE ** Production is seen at the Lego factory in Billund, Denmark, in this Sept. 19, 2005 file photo. The Danish toy maker is having a hard time keeping up with demand for its popular plastic building blocks as toy stores stack their inventories for the Christmas season, a company official said Tuesday. The Denmark-based group has been trimming its staff at home and abroad since starting a restructuring program four years ago. (AP Photo/Anders Brohus, POLFOTO, file) ** DENMARK OUT **
17%

Despite its woes, Lego remains more profitable than US rivals Hasbro and Mattel.

** FILE ** Production is seen at the Lego factory in Billund, Denmark, in this Sept. 19, 2005 file photo. The Danish toy maker is having a hard time keeping up with demand for its popular plastic building blocks as toy stores stack their inventories for the Christmas season, a company official said Tuesday. The Denmark-based group has been trimming its staff at home and abroad since starting a restructuring program four years ago. (AP Photo/Anders Brohus, POLFOTO, file) ** DENMARK OUT **
17%

Toy companies’ annual net profit

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