NATIONAL POST:
Will Wal-Mart steal Christmas from Toys 'R' Us?
Toys 'R' Us slashes jobs, closes stores, posts US$38M loss
Jason Chow
Financial Post
Tuesday, November 18, 2003
Christmas is a make-or-break season for John Eyler of Toys 'R' Us.
Toys 'R' Us Inc. and FAO Schwarz are preparing for a bleak December even though it is supposed to be a toy retailer's busiest season.
Toys 'R' Us, the second-largest U.S. toy store chain, said yesterday it will close 182 of its Kids 'R' Us and Imaginarium stores and eliminate 3,800 jobs after it posted a disappointing US$38-million loss during the third quarter.
"The news from both retailers comes at a time when business is supposed to be heating up. About 40% of their annual revenues comes during the busy Christmas-shopping season, but there's little optimism among the toy sellers."
Will Wal-Mart steal Christmas from Toys 'R' Us?
Toys 'R' Us slashes jobs, closes stores, posts US$38M loss
Jason Chow
Financial Post
Tuesday, November 18, 2003
Christmas is a make-or-break season for John Eyler of Toys 'R' Us.
Toys 'R' Us Inc. and FAO Schwarz are preparing for a bleak December even though it is supposed to be a toy retailer's busiest season.
Toys 'R' Us, the second-largest U.S. toy store chain, said yesterday it will close 182 of its Kids 'R' Us and Imaginarium stores and eliminate 3,800 jobs after it posted a disappointing US$38-million loss during the third quarter.
"The news from both retailers comes at a time when business is supposed to be heating up. About 40% of their annual revenues comes during the busy Christmas-shopping season, but there's little optimism among the toy sellers."
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