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Toys "R" Us optimistic about holidays
A 4.1% third quarter same store sales decline and $105 million loss hasn’t diminished holiday spirits at Toys "R" Us.
The company reported the sales decline for the period ended October 27 late Friday and attributed a portion of the dip in same store sales to a less promotional stance and an earlier start to its layaway program. The layaway program was launched on September, seven weeks before the end of the third quarter, but sales related to items placed in layaway can not be recognized until customers pick up their orders.
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Online sales keep setting records, more to come
Online sales are up 13% so far this holiday season and approaching a record $27 billion, according to the latest tally from the digital measurement firm comScore.
From November 1 through December 7, comScore puts total online spending at $26.8 billion, up 13% from $23.7 billion during the comparable period last year. Last week saw spending on December, 3, 4 and 5 each surpass $1 billion, according to the firm. That brings the number of billion spending days to seven. The highest volume day so far was Cyber Monday when sales hit nearly $1.5 billion.