Toys "R" Us Holiday Sales Rise 2%
January 08 2016 - 9:40AM
Dow Jones News
Toys "R" Us Inc. said its core sales rose 2% in November and
December, excluding currency impacts, lifted by strong online sales
and growth in Canada and Japan.
The closely held retailer said same-store sales grew 1.4% in its
domestic business, helped by online sales and sales in its toy and
learning categories. That helped offset declines in its
entertainment and electronics category.
Abroad, Toys "R" Us posted 3.1% core sales growth for the
nine-week period ended Jan. 2. Positive same-store sales in Canada
and Japan offset weakness in Europe.
Toys "R" Us has long struggled with running out of goods during
the important holiday season. This year, the retailer filled
shelves with more products and created an algorithm to better
predict when goods would run low. Chief Executive David Brandon,
who took the helm in July, has been working to get the company back
on track as he prepares to take it public and provide its
private-equity owners with a long-awaited exit.
Holiday sales results from retailers have been a mixed bag so
far, with strong results from retailers such as L Brands Inc. and
disappointing sales from big names such as Macy's Inc. and Gap
Inc.
Traffic to physical stores continued to decline as consumers
shift toward online shopping and spending on travel and
restaurants. Overall, retail sales rose 3.3% from Oct. 31 through
Jan. 4, about the same pace as they grew the previous year,
according to First Data Corp.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
(END) Dow Jones Newswires
January 08, 2016 10:25 ET (15:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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