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Toys"R"Us CEO Resigns After Holiday Sales Decline

February 14, 2013
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Toys“R”Us Chief Executive Officer Gerald Storch will step down following a drop in holiday sales at the world’s largest toy-store chain. Storch, 56, joined the company in 2006 after Bain Capital Partners LLC, KKR & Co. and Vornado Realty Trust purchased Toys"R"Us for $6.6 billion. He will remain chairman and stay on as CEO during a search for his replacement, the Wayne, N.J.-based company said today in a statement. While Storch improved profitability, the chain has struggled to boost sales amid competition from Amazon.com and discount retailers Wal-Mart and Target....

 

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Toys"R"Us CEO Resigns After Holiday Sales Decline
February 14, 2013 From Bloomberg
Toys“R”Us Chief Executive Officer Gerald Storch will step down following a drop in holiday sales at the world’s largest toy-store chain. Storch, 56, joined the company in 2006 after Bain Capital Partners LLC, KKR & Co. and Vornado Realty Trust purchased Toys"R"Us for $6.6 billion. He will remain chairman and stay on as CEO during a search for his replacement, the Wayne, N.J.-based company said today in a statement. While Storch improved profitability, the chain has struggled to boost sales amid competition from Amazon.com and discount retailers Wal-Mart and Target.
 
Toys"R"Us, Inc. Donates $1 Million To Help Rebuild New Jersey In Aftermath Of Hurricane Sandy
January 16, 2013 From TickerTech.com
WAYNE, N.J., Jan. 16, 2013 /PRNewswire/ -- The Toys"R"Us Children's Fund today announced it has made a $1 million donation to the Hurricane Sandy New Jersey Relief Fund, created by New Jersey's Governor Chris Christie and First Lady Mary Pat Christie to...
 

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