Tag: Toys “R” Us

Toys ‘R’ Us Fires CFO Creasey

Taking Out the Old and Bringing in the New (CFO)
Taking Out the Old and Bringing in the New (CFO)

No reason was given as yet for the summary firing of Chief Financial Officer F. Clay Creasey Jr after serving in the role since 2006. Replacing him will be Michael J. Short, former executive at AutoNation.

Toys ‘R’Us will pay Mr. Short $700,000 as his annual base salary. He will also be able to receive up to the same amount in yearly bonuses. In addition the company will offer Mr. Short stock options.

Mr. Short was the CFO for seven years at AutoNation. He also had financial roles at Universal Orlando, Seagram & Sons, and IBM Corp previous to his stint at AutoNation.

“We are delighted to have Mike join the organization during this transformational time for our company and look forward to the benefit of his strong financial and strategic experience, as well as his unique insights and fresh perspective on the business,” said Toys ‘R’ Us Chairman and Chief Executive Antonio Urcelay.

Toys “R” Us Reveals its First Quarter Results

Toys “R” Us, Inc., one of the largest toy stores in the world, recently released its financial report for the first quarter.

Toys “R” Us Interim Chief Executive Officer Antonio Urcelay explained: “Similar to other retailers, our soft sales in the first quarter we partially impacted by the ongoing challenges of the global economic environment and the prolonged cool weather conditions around the world. Additionally, the continued weakness in the electronics and entertainment category negatively affected revenues.

“As we look forward to the remainder of the year, we are confident in our overall strategy and are committed to investing in initiatives that focus on providing exemplary service to our customers, enhancing our omnichannel capabilities to maximize sales through all channels, expanding our global reach, including throughout China and Southeast Asia, and deepening our assortment of differentiated products.”

traducción español

Toys “R” Us Reveló los resultados de su primer trimestre

Toys “R” Us, Inc., una de las jugueterías más grandes del mundo, recientemente reveló el reporte financiero de su primer trimestre.

El director Ejecutivo Interino de Toys “R” Us, Antonio Urcelay, explicó: “Al igual que otras tiendas de ventas al por menor, nuestras ventas en el primer trimestre se vieron parcialmente impactadas por los retos actuales que enfrenta el ámbito económico y los fríos prolongados alrededor del mundo. Además, la continúa debilitación de la categoría de electrónicos y entretenimiento afectaron las ganancias de forma negativa.

“Al mirar hacia adelante al resto del año, estamos confiados en nuestra estrategia general y comprometidos a invertir en iniciativas que se enfoquen en proveer de servicio ejemplar a nuestros clientes, mejorando nuestras capacidades de un canal  para maximizar nuestras ventas por medio de todos los canales, expandiendo nuestro alcance global, incluyendo todo a lo largo de China  y el sureste asiático, y profundizando nuestro  surtido de productos diferenciados.”

English Translation

Big-Name Retailers Extend Hours for Holiday Shoppers

Big-name retailers are upping their appeal to last minute holiday shoppers by offering extended hours, sometimes even staying open for more than 24 hours straight.

Macy’s was the first to announce such a policy, broadcasting last week that its stores will be open in the 48 hours leading up to Christmas Eve. The department locations will open on Friday, Dec. 21st through Sunday, December 23rd.

Other retailers are following in Macy’s footsteps, hoping to draw last-minute gift buyers and other shoppers.

Toys “R” Us announced that its stores would remain open for 88 hours straight in preparation for Christmas Eve. It also kept its Times Square location open for 24 hours for the past few weeks, and will continue to do so until Christmas. Target is also extended its hours.

Macy’s chief stores officer explained:

“We hope to make it easy for our customers across the country to finish their shopping at any time of day or night, and with the benefit of the great deals and value they count on from hour One Day Sales when must see here.”