Toys"R"Us: New Game Plan or Same Toy Story?
Toys"R"Us unveiled its "go forward" strategy Wednesday, but much of its game plan seemed to come from past playbooks. Toys"R"Us CEO Antonio Urcelay and U.S. President Hank Mullany told analysts, investors and the media that they have a "TRU Transformation" plan in the works that they believe will stabilize sales, reduce costs and position the company for future growth. They said they've already made significant cost-reduction moves. Those include cutting about 100 jobs at the Wayne, N.J. headquarters out of 1,600 positions and more than 400 jobs worldwide out of more than 67,000 posts over the past month.