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The problem of the Toys 'R' Us $36-million gift card mountain [Yahoo! Finance Canada]
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US:NASDAQ Investor Relations: phx.corporate-ir.net/phoenix.zhtml%3fc%3d97664%26p%3dirol-irhome
Toys “R” Us has been a giant in children's playthings for decades, having opened its first Canadian store in 1984, but lately its finances have seen better days. The company is now trying to restructure as it faces tough competition from U.S. behemoths Walmart and Amazon.com Inc., which can offer cheaper toys with the convenience of home delivery. The chain plans to close more stores “to better position the company in today's retail environment.” One of the most significant revelations so far in this restructuring is the value of unredeemed Toys “R” Us gift cards . Canadians are sitting on $36 million in toy store money. After closing 57 stores this past year, and with a website that is no longer taking orders, how much cash will Canadians be leaving on the table? • Email: dtrainer@postmedia.com Recommended Stories
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