The 2016 Christmas period has proved to be ‘unusual and challenging’ for toy retail giant Toys R Us, the firm has stated.
The retailer has reported a same store sales decrease of 2.5 per cent domestically and 4.9 per cent internationally, resulting in a consolidated decrease of 3.4 per cent for the nine week period ending December 31.
“Despite a promising start over Thanksgiving and Black Friday, we experienced lower than expected sales in the toy category overall and continued softness in our baby business,” said Dave Brandon, chairman and CEO, Toys R Us.
“The loss of momentum in the toy category triggered intense promotional activity from our competitors, creating a significant competitive challenge.
“We are disappointed but remain firmly committed to take aggressive action as we enter 2017, with a relentless focus on delivering the best experience possible along every step of the customer journey.
“We have a number of important initiative planned, including the relaunch of our webstore, which we expect will have a significant impact on our ability to drive future growth in both our baby and toy businesses.”