Bloomberg Reports What We've Long Suspected: The Business is Hurting
Color us shocked. Despite millions of dollars worth of bonuses both pre and post-petition, Toys R Us' crack management team cannot figure out a way to stabilize the big box toy retailer. Bloomberg reported earlier today that the company is now considering closing "at least 100 U.S. stores in the face of weak holiday sales." Is this fake news? Anyone who believed management when they previously said they didn't intend a large percentage of stores was clearly smoking something. 100 out of approximately 879 US stores strikes as a meaningful percentage. Basic math.