Articles Tagged ‘Toys ‘R’ Us’
A continued slope in domestic and foreign sales has contributed to mega retailer Toys ‘R’ Us’ decision to withdraw its proposed initial public offering. The move comes amid the company’s latest financial report that saw fourth-quarter holiday sales fall roughly 3% to US$5.8 billion.
It looks like it wasn’t strictly fun and games during the 2012 holiday shopping season. Merchants at American Toys ‘R’ Us stores were more inclined to purchase toys within the Learning segment rather than those in the Entertainment category, which witnessed a sales decrease of 1.9% over December 2011.
New Jersey-based retailer Toys ‘R’ Us reported a third-quarter net loss of US$105 million versus US$93 million for the same period a year ago citing economic weakness in Europe and Japan and an increase in interest expenses as factors contributing to the decline.