Toys R Us is taking ‘aggressive steps in the months ahead’ to achieve sustainable growth, including the creation of a central European Management Board.
In a recent investor presentation, the toy retail giant revealed its intentions to move from a decentralized country-by-country leadership structure to a pan-European approach.
The retailer hopes the move will drive greater efficiencies across its European business.
New management boards in each country will handle all local issues and will represent the interests of customers, employees and stakeholders in their respective markets.
Meanwhile, the retailer will continue to transform customer experience both online and in-store with new investment in the physical appearance of its stores.
It is the company’s focus to continue to grow its online profit, with further omnichannel capabilities, including in-store pick-up and ship from store initiatives.
Over the coming year, the firm now expects to continue to grow internationally, with new focus on China and Southeast Asia.
Antonio Urcelay, chairman of the board and chief executive officer, toys R Us Inc, said: “A year ago, we introduced a new strategic plan with initial efforts concentrated on strengthening the foundation of the company so revenue and profits can grow in the future.
“Our strategy remains the same, but will evolve in 2015 as we continue to strengthen the foundation of the company, in order to achieve sustainable growth in the future.
“We anticipate this will be another year of significant change and we will take aggressive steps in the months ahead to further right-size the cost structure of the business.
“This includes designing a more streamlined organisation that will allow us to create greater operational efficiencies across our global organisation.”