We are still in business - Toys R Us South Africa
CAPE TOWN - Toys R Us South Africa has confirmed that it is unaffected by troubles that its US affiliate is facing.
In the wake of Toys R Us US announcing its plans to either sell or close 800 of its outlets, speculation emerged that its SA affiliate would also be affected.
This comes after the US retailer last year filed for bankruptcy, citing its failure to pay a nearly $8 billion debt. The closure or selling of its US branches will affect nearly 33 000 jobs.
Toys R Us SA issued a statement today, stating that they remain unaffected. The retailer emphasised that it is a privately owned enterprise. Hence, it operates independently from its global counterparts.
Toys R Us Marketing Manager, Nicole Annells highlighted the store’s revenue growth which has in fact strengthened significantly.
“We have maintained our momentum. Our revenue growth is solid, and Toys R Us & Babies R Us continues in a clear path of strengthening our brand footprint throughout South Africa,” said Annells.
Annells added that the retailer’s refurbished store at Canal Walk in the Western Cape will be launched soon and the brand is “eagerly awaiting” the launch.
- BUSINESS REPORT ONLINE