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Lego builds shopping centre presence

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Toy specialist Lego is to upsize its existing store at Bluewater shopping centre, as the leading retail destination adds to its portfolio, it was announced today.

A total of six brands are set to open stores there before the autumn, including shoe retailer Sketchers, fashion specialist Moss Bros and jewellers Mappin & Webb.

The move follows positive results for Lego Group for the first half of its financial year.

The company reported a net sales increase of 25 per cent for the first half of 2011, with an operating profit of DKK 2.03 billion (£235.5 million) compared with DKK 1.47 billion for the first half of 2010.

Commenting on the successful results, CEO Jørgen Vig Knudstorp pointed out that the second half of the financial year is generally more profitable for the company due to the busy Christmas period.

“The first six months of the year have exceeded our expectations on all markets, and the financial result is very satisfactory,” he said.

“But as the bulk of our sales occur in the closing months of the year, it is too early yet to say anything definite about the overall result for 2011.”

Bluewater has had a similarly successful year, as a total of 26 new brands have opened stores in the area in the last nine months.

Commenting on the latest six, Guy Thomas, Head of Retail Leasing at Bluewater co-owner Lend Lease, said that these developments were a positive step for both the shopping centre and the involved retailers, in continuing to increase brand awareness for upcoming stores.

“These latest transactions demonstrate two things about Bluewater,” he explained.

“Firstly, that it is a first-choice destination for brands seeking prime sites from which they can serve a significant proportion of the South East’s most affluent catchment.

“Secondly, that, through proactive asset management, we can provide existing brands with opportunities to increase their presence.”

Published on Friday 02 September by Editorial Assistant

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