Retail
New CEO for Toys“R”Us, Just in Time for Soft Holiday Season?
Published:
Last Updated:
Urcelay took over as interim CEO in May when the company fired its previous CEO for lackluster sales. Competition from the likes of Wal-Mart Stores Inc. (NYSE: WMT) on the ground and Amazon.com Inc. (NASDAQ: AMZN) over the internet really took on toll on Toys”R”Us sales during the 2012 holiday season.
This year the company has announced plans to hire 45,000 seasonal workers to assist its 70,000 employees during the holiday shopping season. The firm said the seasonal hiring was “on a par” with last year.
Toys”R”Us is a major seasonal employer, surpassing the 35,000 holiday hires expected at J.C. Penney Co. Inc. (NYSE: JCP), and not far behind Kohl’s Corp. (NYSE: KSS) and Walmart with 53,000 and 55,000 seasonal hires, respectively.
The National Retail Federation has forecast 2013 holiday sales to grow by a relatively modest 3.9% to more than $600 billion, about 15% of which will come from online sales. And that’s likely only if shoppers quickly put the effects of the recent government shutdown behind them.
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.