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.”