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Toys "R" Us stores show promise.
Byline: Brenon Daly
In a conference call, chief executive John Eyler declined to field questions about the "strategic review" and restructuring of the toy stores announced in August. He did, however, put in a mild plug for the division.
"This has been a fairly interesting holiday season, in the sense that it's been very price competitive, and it's what we hope is the tail end of a several-year downturn in overall toy industry sales," Eyler said. He added that Toys "R" Us took market share in the toy industry, which he estimated declined about 5%.
A decision about the toy division, which could include a sale of it, is expected in the first half. First-round bids for the division arrived at the end of November, and a second round of offers is expected in the next few weeks.
Toys "R" Us ends its fiscal year at the end of this month.
Early estimates value the toy business at more than $1 billion, plus another $1 billion for the real estate holdings. Toys "R" Us has 1,078 stores around the world, with 678 of those in the U.S.
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