November 06, 2014 // Franchising.com // WAYNE, NJ – Toys"R"Us® today announced its global store growth for 2014, with the planned opening of approximately 90 stores, including new locations, the relocation of several stores and 33 licensed stores. These new stores are located throughout 21 of the 37 countries and jurisdictions in which Toys"R"Us, Inc. currently has a presence through its wholly owned and licensed businesses, and include the opening of the company's first licensed store in Namibia, which took place in October.
The company's most significant expansion plans for 2014 are in China and Southeast Asia, where it has already begun operating several of 22 brand-new stores in China and eight planned new locations in Malaysia. Expanding its business in this region continues to be a priority for the company, and by the end of the year, it plans to operate 76 stores in 35 cities throughout China. In October 2011, Toys"R"Us, Inc. acquired the majority stake in its business in Greater China and Southeast Asia from Fung Retailing. With this agreement, the existing Toys"R"Us licensed operations in this region became approximately 70 percent majority owned and controlled by Toys"R"Us, Inc. and approximately 30 percent owned by Fung Retailing. The company has grown its store presence in China significantly since that time, and launched a dedicated e-commerce site in 2012.
"International growth remains an important area of investment for the company and we continue to see significant opportunities for expansion, especially in China and Southeast Asia," said Antonio Urcelay, Chairman of the Board and Chief Executive Officer, Toys"R"Us, Inc. "Toys"R"Us is one of the most recognized retail brands in the world, and with the opening of approximately 90 new stores globally this year, we are proud to expand our footprint, making Toys"R"Us more accessible to parents and kids throughout the world."
The new stores the company plans to open in 2014 include both Toys"R"Us locations and a number of Side-by-Side formats, which combine Toys"R"Us and Babies"R"Us® under one roof to offer a one-stop shopping convenience to customers.
New store sizes vary by country and range from 3,000 – 45,000 square feet. Below is the full list of new and relocated store locations scheduled to open this year:
United States: Two new Toys"R"Us Outlet locations:
Australia: Three new Side-by-Side stores:
Canada: Two new Side-by-Side stores:
China: 22 new Toys"R"Us stores, and one relocated store:
Germany: Five new Toys"R"Us stores:
Hong Kong: One renovated Toys"R"Us store:
Japan: Six new Side-by-Side stores:
Malaysia: Eight new Toys"R"Us stores:
Poland: One new Toys"R"Us store:
Portugal: One relocated Toys"R"Us store:
Singapore: One new Toys"R"Us store:
Switzerland: One new Toys"R"Us store:
Taiwan: One new and one relocated Toys"R"Us store:
Finland: One new Toys"R"Us store:
Israel: One new Toys"R"Us store:
Macau: One new Toys"R"Us store:
Namibia: Opened its first Toys"R"Us store:
Philippines: Five new Toys"R"Us stores:
Saudi Arabia: Two new Side-by-Side stores:
South Africa: 17 new Toys"R"Us and Side-by-Side stores:
South Korea: Five new Toys"R"Us stores:
All statements that are not historical facts in this press release, including statements about our beliefs or expectations including, but not limited to, store growth expansion, are forward-looking statements. These statements are subject to risks, uncertainties and other factors, including, among others, the seasonality of our business, competition in the retail industry, changes in our product distribution mix and distribution channels, general economic factors in the United States and other countries in which we conduct our business, consumer spending patterns, our ability to implement our strategy, the availability of adequate financing, access to trade credit, changes in consumer preferences, changes in employment legislation, our dependence on key vendors for our merchandise, political and other developments associated with our international operations, costs of goods that we sell, labor costs, transportation costs, domestic and international events affecting the delivery of toys and other products to our stores, product safety issues including product recalls, the existence of adverse litigation, changes in laws that impact our business, our substantial level of indebtedness and related debt-service obligations, restrictions imposed by covenants in our debt agreements and other risks, uncertainties and factors set forth in our reports and documents filed with the Securities and Exchange Commission (which reports and documents should be read in conjunction with this press release). In addition, we typically earn a disproportionate part of our annual operating earnings in the fourth quarter as a result of seasonal buying patterns and these buying patterns are difficult to forecast with certainty. Forward-looking statements speak only as of the date when made, and we undertake no obligation to update these statements in light of subsequent events or developments unless required by the Securities and Exchange Commission's rules and regulations. Actual results and outcomes may differ materially from anticipated results or outcomes discussed in forward-looking statements.
Toys"R"Us, Inc. is the world's leading dedicated toy and baby products retailer, offering a differentiated shopping experience through its family of brands. Merchandise is sold in 876 Toys"R"Us and Babies"R"Us stores in the United States and Puerto Rico, and in more than 725 international stores and over 200 licensed stores in 36 countries and jurisdictions. In addition, it exclusively operates the legendary FAO Schwarz brand and sells extraordinary toys in the brand's flagship store on Fifth Avenue in New York City. With its strong portfolio of e-commerce sites including Toysrus.com, Babiesrus.com, eToys.com and FAO.com, it provides shoppers with a broad online selection of distinctive toy and baby products. Headquartered in Wayne, NJ, Toys"R"Us, Inc. employs approximately 70,000 associates annually worldwide. The company is committed to serving its communities as a caring and reputable neighbor through programs dedicated to keeping kids safe and helping them in times of need. Additional information about Toys"R"Us, Inc. can be found on Toysrusinc.com. Follow Toys"R"Us, Babies"R"Us and FAO Schwarz on Facebook at Facebook.com/Toysrus, Facebook.com/Babiesrus and Facebook.com/FAO and on Twitter at Twitter.com/Toysrus and Twitter.com/Babiesrus.
SOURCE Toys"R"Us, Inc.