Jerry Storch

Joe Keenan is the executive editor of Total Retail. Joe has more than 10 years experience covering the retail industry, and enjoys profiling innovative companies and people in the space.

Taylor Knight is an associate content editor for Target Marketing and Total Retail. She enjoys writing and creating video content to interact with an audience.

Hudson's Bay, the owner of the Lord & Taylor and Saks Fifth Avenue department stores, has named Jerry Storch, the former top executive at Toys"R"Us, to serve as its new chief executive. The department store operator said Storch will take the reins beginning Jan. 6, succeeding Richard Baker, who will stay on as executive chairman.

The Toys"R"Us board has chosen interim Chief Executive Officer Antonio Urcelay as chief executive, but has paired him with a former Wal-Mart executive as the head of the Wayne, N.J.-based company's U.S. retail operations. The announcement this week follows an eight-month search that followed the resignation of former CEO Jerry Storch in February. Urcelay, who previously headed Toys’ global operations, was named interim CEO soon after Storch stepped aside, but has kept a relatively low profile in the interim position. Hank Mullany, a former executive vice president of Wal-Mart, U.S., was named president of Toys"R"Us, U.S., effective Nov. 5.

WAYNE, N.J. — Toys“R”Us reported that sales for the the fourth quarter decreased $155 million to $5.8 billion and that net earnings fell to $239 million from $343 million in the prior year. Jerry Storch, chairman and CEO, Toys“R”Us Inc., stated, “We are...

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