Toys R Us
Big, lumbering retailers try to reinvent their businesses
For nearly two years, Toys "R" Us has waited for the right moment to take itself public. That moment might be slipping away.
The company is facing management defections, a decline in same-store sales and relentless competition from Walmart and Amazon. Last month, Moody's Investors Service put a negative watch on the company's debt.
Toys "R" Us Christmas sales increase 5.1pc
Toys "R" Us has reported its results for the month of December 2011.
International total sales increased by 5.1 percent, which reflected benefits from its recent acquisition of businesses in Asia and China. However like-for-like sales for the month fell by 1.4 percent.
Toys "R" Us reports USD34m net loss for 2Q11
Top US toy retailer Toys "R" Us on Thursday reported a net loss of USD34 million in the second quarter ended on 30 July 2011, compared to a net loss of USD14m last year.
Comparable store net sales dropped 2.2 percent for both the domestic and international segments although net sales increased 3 percent to USD2.65 billion.
Toys "R" US updates iPhone app with pionering location aware functionality
Toy and children's product chain Toys "R" Us has updated its Hong Kong iPhone application to help users feel the Toys "R" Us WOW factor, wherever they are. Toys "R" Us is the first retailer in Hong Kong to connect with FourSquare, allowing shoppers to earn badges through checking in, which can lead to rewards for the whole family.
Australia's watchdog slated over Toys "R" Us deal
The Australian federal workplace watchdog had been criticised for not pursuing civil action against retail giant Toys "R" Us for underpaying more than 1000 young workers by a total of AUD1 million (USD990,813).
The company has apologised to the employees and backpaid the outstanding amounts under a settlement negotiated with the Australian statutory office Fair Work Ombudsman.
Toys "R" Us posts a loss of USD93m for 3Q10
US toy retail major Toys "R" Us on Friday posted a loss of USD93 million for the third quarter ended on 30 October 2010 compared with a loss of USD69m in the same period last year. Net sales grew 1.9 percent to USD2.7 billion, helped by 2.3 percent growth of comparable store net sales in the US and due to new locations including Toys "R" Us Express stores and a foreign currency translation benefit of USD17m. International comparable store net sales fell 2.9 percent, partially offsetting the increases.
Toys "R" Us claims it won't be opening stores in India
US-based toy retailer Toys "R" Us has said it won’t be opening stores in India, following reports of a link-up with Indian retail major Reliance Retail. The company released a statement of denial after various news sources reported a link between the two retailers.
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Toys "R" Us sweetens loyalty program rewards
Toys "R" Us plans to sweeten the rewards offered by its loyalty program, giving members 10 percent back on their purchases this holiday season.
The enhanced rewards program, set to be announced on Wednesday, is yet another sign that retailers will likely turn to creative promotions this holiday season to attract shoppers.
Toys "R" Us placing bigger bet on "pop-up" stores in the US
Toys "R" Us unwrapped plans to vastly expand its reach this Christmas by adding 600 "pop-up" stores, more than 260 Toys "R" Us shops within Babies "R" Us stores – and an additional 8 outlet stores.
In doing so, the US largest toy retailer is placing a big bet that a larger presence in the nation's malls and shopping centres this holiday season will translate into richer profits.
Former Toys "R" Us UK manager ordered to repay USD5.6m
Paul Hopes, a former UK Toys "R" Us accounts manager who stole GBP3.68 million (USD5.6 million) from the company to pay for call girls, luxury cars and houses has been ordered to repay a majority of the cash or face another 10 years in prison.
Over several years, the 59-year-old married father-of-two siphoned off regular instalments of GBP300,000 (USD455,600) to the account of a fictitious toy manufacturer called Dunbar Associations, named after one of his female escorts.
