Toys R Us plans April IPO

Reports from the US suggest the firm will be looking to generate $800 million from the offering.
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The New York Post has reported that the retailer, which twice delayed plans for an initial public offering last year, is now aiming to float upwards of $800 million in an IPO in April.

"Toys R Us took more market share from competitors last year than they have in the past 20 years," said a source close to the company. "But I don't think they were satisfied with how they did on the profit level."

Officials at Toys R Us and Kohlberg Kravis Roberts & Co, the private-equity firm that led a $6.6 billion buyout of the toy retailer in 2005, declined to comment yesterday.

Disappointing sales throughout the key December selling period have raised continued debate, however, between management and owners about whether Toys R Us is ready to go public, according to one source briefed on the situation.

"Toys R Us took more market share from competitors last year than they have in the past 20 years," said one source the Post described as close to the company. "But I don't think they were satisfied with how they did on the profit level."

Despite increasing its market share by one percentage point, the retailer's sales were below expectations.

Toys R Us opened an extra 600 pop-up stores for the Christmas trading period in 2010, a huge jump from the 90 it opened the year before. This may also have dented its margin in a difficult trading period.

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