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Softness in electronics hits Toys ‘R’ Us in Q3
Toys "R" Us Inc.’s sales fell in the third quarter amid weakness in the electronics and entertainment category. The company reported a loss of $156 million for the October quarter, compared with a loss of $167 million in the year-ago period. The latest period included a net gain of $45 million related to the sale of its FAO Schwarz brand. Revenue fell 2.3% to $2.28 billion, from $2.33 billion in the year-ago period. -
Toys ‘R’ Us sells FAO Schwarz
Expect more FAO Schwarz-branded toys, in-store “experiences” and even possible freestanding stores in the very near future. In an unexpected announcement, ThreeSixty Group said it has acquired FAO Schwarz from Toys “R” Us. The terms of the transaction were not disclosed. Toys “R” Us purchased FAO Schwarz in 2009.

