Gerald Storch

Melissa Campanelli is Editor-in-Chief of Total Retail. She is an industry veteran, having covered all aspects of retail, tech, digital, e-commerce, and marketing over the past 20 years. Melissa is also the co-founder of the Women in Retail Leadership Circle.

Shortly after news surfaced of it abandoning IPO plans, troubled toy retailer Toys ‘R’ Us is seeing many of its executives leave, including its head. Chief Executive Gerald Storch declared that he is stepping down. On the back of his announcement, the...

Toys"R"Us has decided not to offer their shares publicly, as they had initially planned. In a Friday press release, the nation's biggest toy seller said they were withdrawing their IPO "due to unfavorable market conditions, and the company's recently announced executive leadership transition." But Friday also saw the company report miserable fourth-quarter earnings. Not only did company's net income slide 30 percent on a light drop in revenue, but U.S. sales dropped by two percent. And probably worst of all, same store sales plummeted 4.5 percent from the year prior.

Toys“R”Us Chief Executive Officer Gerald Storch will step down following a drop in holiday sales at the world’s largest toy-store chain. Storch, 56, joined the company in 2006 after Bain Capital Partners LLC, KKR & Co. and Vornado Realty Trust purchased Toys"R"Us for $6.6 billion. He will remain chairman and stay on as CEO during a search for his replacement, the Wayne, N.J.-based company said today in a statement. While Storch improved profitability, the chain has struggled to boost sales amid competition from and discount retailers Wal-Mart and Target.

Wayne, N.J. -- Toys “R” Us has selected Neil Friedman, most recently president of Mattel Brands, to serve as president of its U.S. business. Friedman will oversee all merchandising, marketing, store operations, global sourcing and product development, and allocation for the chain’s 866 U.S. stores and online business. He will report to Toys “R” Us chairman and chief executive Gerald Storch.

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