Toys “R” Us CEO stepping down
ChainStoreAge.com - Feb 14th 2013, 10:15
Wayne, N.J. -- The search is on for a new chief executive of Toys “R” Us with the announcement that Gerald L. Storch is stepping down as CEO of the company. The news comes just weeks after the world's largest dedicated toy retailer reported that its same-store U.S. sales fell 4.5% during the holiday season, and that its total sales fell 4.7%.
Toys “R” Us said that Storch, 56, will remain in his position as chairman of the board, providing strategic guidance and playing a key role in its growth initiatives. He also will remain in the chief executive role while the company searches for a replacement.
A former Target executive, Storch joined the company in February 2006, following its acquisition by an investment group consisting of affiliates of Bain Capital Partners LLC, Kohlberg Kravis Roberts & Co., and Vornado Realty Trust.
The Toys “R” Us board credited Storch with rebuilding the company and successfully leading it through an “extremely difficult global economic environment.” The company said it has dramatically increased its online presence under his leadership.
In a statement, the Toys “R” Us Board of Directors said: “Jerry has done an exceptional job in rebuilding the company, while successfully leading it through an extremely difficult global economic environment. We are grateful for his leadership over the past seven years and for the strong foundation he has built for the future,” the board said in a statement.
Holiday marketing tips to help your store stand out
27/11/2018 - 08:59
The festive season is a challenging time for shopping malls in Cape Town. Customers are ready to spend their hard earned money and make impulse decisions, therefore, you need to ensure your store is ready for the holiday rush and that your marketing strategy attracts the big spenders.
Macy's raises annual forecast before holiday season
16/11/2018 - 08:47
Macy’s raised its annual earnings forecast, signalling a strong holiday shopping season ahead, as the department store chain builds on a recovery strategy that focuses on its well-performing stores and expanding online.
4 ways e-retailers can stand out this holiday season
16/11/2016 - 15:16
It’s that time of year again. There’s joy in the air, snow on the ground, and big opportunities online for e-retailers savvy enough to grab some of the extra business that the holidays bring with them. ‘Tis the time for specials, e-mail campaigns, and increased outreach to customers. The problem, of course, is that “everyone else” will be doing the same. The trick for e-retailers is to develop ways to distinguish their site, convincing consumers to shop with them, rather than their competitors.
Holiday champagne recession over - experts
18/12/2013 - 09:35
New York - After years of resorting to less costly sparkling beverages, many wine experts said they will be popping champagne corks this New Year's Eve, which could be an indication of better economic times ahead
Card payments overtake cash: FNB
06/11/2013 - 09:15
FNB reports that monthly non-cash purchases by customers in its consumer segment have surpassed cash withdrawals at its ATMs by R800 million.