Increased big-box competition and decreased momentum for videogame sales, both at home and abroad, led to continued losses at global retailer Toys ‘R’ Us, which saw a 4% drop in US sales during its crucial holiday quarter of 2013.
“Market signals indicate that investors are very bearish on the prospects of Toys ”R’ Us,” says Jerry H. Tempelman, director of the capital markets research group at Moody’s Analytics. “There is concern in the market.” The toy retailing institution is on shaky ground as debt hovers and sales drop. Industry analysts like Tempelman agree it’s time for a TRU makeover.
Mega retailer Toys ‘R’ Us is gearing up for the US February 7 theatrical release of The Lego Movie by introducing all-new construction sets, branded special events and movie ticket promotions tied into the highly anticipated film.
Sales at US Toys ‘R’ Us stores declined 4.7 % over last year during the 2013 nine-week holiday period. However, overall December sales were still up slightly for the retailer.
Wayne, New Jersey-based retail giant Toys ‘R’ Us is feeling the sting of heightened competition from online rivals like Amazon as the toyco posted a third-quarter loss of US$605 million, compared to a loss of US$105 million a year ago.
Toys ‘R’ Us acting chief Antonio Urcelay has officially been named CEO of the New Jersey-based mega retailer as it gears up for the crucial holiday season. Meanwhile, retail exec Hank Mullany has been named president of TRU’s American operations, effective November 5.
Skylanders Swap Force, the latest installment to Activision’s US$1.5 billion gaming franchise, is making its long-anticipated debut next week and Toys ‘R’ Us is marking the occasion with a selection of exclusive merchandise and branded events.
The holidays can’t come soon enough for Toys ‘R’ Us. After posting a 6.9% drop in sales during its second quarter, the New Jersey-based mega retailer is banking more than ever on the highly competitive holiday months ahead, and in doing so the company has revealed its annual Holiday Hot Toy List.
Master toy partner Just Play’s new line based on Nick Jr.’s hit preschool series Tickety Toc has officially launched at Toys ‘R’ Us stores across the US and online at Toysrus.com.
Our fall edition of iKids Digital is now available! We’re taking a look at the migration of virtual worlds to mobile, how to find success in the mobile education space, wearable tech for kids and much more.