Toys ‘R’ Us’ is trying to save its $4.5 billion toys catalogue by changing its name
Toys ‘r’ us has been struggling to keep up with demand for its latest line of “mature” toys.
Now, Toys ‘ r ‘s Chief Operating Officer, Bill Kowalski, has said the company is working to change its name, which has long been associated with the adult toy industry.
Toys ‘ R ‘s annual report released Monday said the brand is planning to make changes in the “clothing, accessories, accessories and accessories and apparel” divisions, to reflect the brand’s “strong and ongoing commitment to the adult toys and play culture.”
Toys ‘ n’ More has been a part of the toy and toy accessory market for more than 30 years, Kowarski said in a conference call Monday.
“We’ve had to make some decisions as a brand to make sure we have something that is a little bit different for our brand,” Kowaleski said.
Toys ”R” Us, which is based in Irving, Texas, is the third-largest toy retailer in the United States after Walmart and Toys ‘n’ More.
In the latest quarterly report, Toys ” R ”s sales fell 1.2 percent from the same quarter last year.
Toys &g Games Inc. posted a net loss of $3.2 billion for the year ending March 31.
Kowinski told analysts last month the company planned to focus on “a better way of offering toys” with “more of a focus on the things that really get people excited and what is exciting to them.”
The Toys ” r ”s chief financial officer, Kevin O’Connor, said the changes were needed to “build our brand identity.”
“It’s a big business and we’re constantly looking for ways to expand our business,” he said.
Kottman & ;amp ;Merrill & .
Novello said in its quarterly report that its toys and toy accessories business is expected to grow “substantially” in the second quarter, to $11.7 billion.