Two new stores opening before Christmas and global ambitions

  • Lego Group to open two new stores in Birmingham’s Bull Ring and Southampton West Quay Shopping Centre
  • Stores planned to open just before Christmas season
  • Widest selection of latest Lego sets and play experiences
  • Alison Wood, LEGO Stores UK, Benelux and Scandinavia district senior manager’s statement
  • Lego Group’s expansion into China in 2018 despite cutting 8% global workforce
  • Strong financial results for 2018 with revenue up to £4.1bn and profits at £900m
  • Sales decreased in 2018 due to crowded toy market and Toys R’ Us closure, but Lego increased market share in largest markets

The Lego Group is expanding its retail presence with two new stores in Birmingham’s Bull Ring and Southampton West Quay Shopping Centre, set to open just before the holiday season. The company claims these stores will offer the ‘widest selection’ of the latest Lego sets and unique play experiences. Alison Wood, LEGO Stores UK, Benelux and Scandinavia district senior manager, said that builders of all ages can be inspired by the endless play opportunities inside the new LEGO stores in Birmingham and Southampton. In March 2018, Lego announced it was looking to expand into China despite cutting 8% of its global workforce as part of efforts to ‘reset’ the business after a challenging year that saw sales decrease for the first time since 2004 due to a crowded toy market and Toys R’ Us closure. Despite these challenges, Lego CEO Niels B Christiansen said they grew market share in their largest markets, bucking industry trends.

Factuality Level: 8
Factuality Justification: The article provides accurate information about Lego Group’s expansion plans for new stores and their financial performance, with relevant background information on the challenges faced by the toy industry. However, it does not include any personal opinions or fallacies.
Noise Level: 3
Noise Justification: The article provides relevant information about Lego Group’s expansion plans and financial performance but lacks in-depth analysis or exploration of long-term trends or consequences of decisions made by the company.
Financial Relevance: Yes
Financial Markets Impacted: The Lego Group’s financial performance and expansion plans impact their stock value and partnerships with retailers.
Financial Rating Justification: The article discusses the company’s financial results, revenue growth, and expansion plans, which can affect its stock value and partnerships with retailers.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the text

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