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01/10/2006 01:25 PM ID: 52173 Permalink   

Toys 'R' Us Announces Store Closures, Job Cuts


Toys R Us Inc. announced yesterday that it will be closing some 75 stores across the United States, as well as converting 12 locations to Babies 'R' Us stores, effectively slashing some 3,000 jobs from its work force.

The company will record restructuring costs and other fees and charges as a result of the move, taking approximately US$99 million out of last year's 4th quarter earnings, and US$56 million out of this year's first quarter.

The company reported that the closures and job cuts will occur in the second quarter of this year.

    WebReporter: NuttyPrat Show Calling Card      
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  Kids these days  
Guess kids don't like Toys no more...
  by: Azzamean   01/10/2006 03:36 PM     
It's just that Walmart stole all their business, just another one down the tube thanks to the almighty W. But there were things only Toys R Us carries, so that's a loss
  by: richjournalist     01/10/2006 05:34 PM     
  You know  
Toys-r-us also got pretty expensive, even when competing with the Big Box.
I think that for every store they close they should donate everything left in there to charity.

Nice gesture, and also a good write off for them (sounds terrible but goodwill is good for the books)
  by: jediman3     01/10/2006 05:47 PM     
i agree 2 expensive warehoused sized stores but no bulk savings or great discounts so whats the point in going there?
  by: stonedwookie   01/11/2006 01:27 AM     
so all the little kiddies will not get their toys anymore,unless they shop somewhere else for toys.
  by: reeses1085   01/11/2006 02:35 PM     
I miss the old die cast transformers...they don't build them like they used to!
  by: jediman3     01/12/2006 06:58 PM     
  Anything that  
Toys-R-Us sold that either walmart or target doesn't have will be available online. It will be more with shipping but if you have to have it you can still get it.
  by: cherubgirl     02/21/2006 01:33 AM     
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