Tag: Retail

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.”

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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.”