Wayne, N.J. -- Toys “R” Us reported Friday an operating loss of $75 million for the quarter ended Oct. 29, compared with a loss of $62 million in the year-ago period. Adjusted EBITDA was $36 million, compared with $49 million in the prior year. Sales dipped to $2.7 billion from $2.72 billion a year earlier, and same-store sales fell 2.2% domestically and 3.9% internationally. "During the third quarter, we prepared for the upcoming holiday season and took some important steps to position the company for long-term growth," Jerry Storch, chairman and CEO, said, Toys “R” Us acquired a majority
New York City -- Gap Inc. on Thursday opened its first store in Poland, in Warsaw’s Arkadia mall. Gap and its Polish franchise partner, Ultimate Fashion, are planning to open more stores in Poland in 2012 and expand to other countries in the region.
Toys"R"Us has established business operations in Poland. The first store will open in Warsaw next month and additional locations are slated to open in major cities in 2012.
Warsaw, Poland -- Gap opened its debut store in Poland on Thursday to some 200 people waiting in line to shop Central Europe’s first Gap store. The store, located in Warsaw’s Arkadia mall, was opened by Gap’s Polish franchise partner Ultimate Fashion, which plans to open additional stores in Poland in 2012.
Tesco is capitalizing on the 45 percent surge in its online clothing business by expanding this service to international markets. The U.K. multichannel retailer will deliver its range of clothing to countries in Europe through Clothingattesco.com, to be relaunched this month.
Broader economic warning signs — including a persistently high unemployment rate — have yet to slow down the recovery in retail sales. As a result, demand for retail space continues to grow and new concepts, of which there were few to be found at the depths of the recession, have re-emerged.