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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
_____________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
_____________________
Date of Report (Date of earliest event reported): January 6, 1997
TOYS "R" US, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware 1-11609 22-3260693
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
461 From Road, Paramus, New Jersey 07652
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code:(201) 262-7800
(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
This report relates to certain announcements made by the Registrant
in the Press Release, dated January 6, 1997, filed as an exhibit hereto and
incorporated by reference herein.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
c. Exhibits
99. Press Release, dated January 6, 1997
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
TOYS "R" US, INC.
Dated: January 7, 1997 By: /s/ Louis Lipschitz
Louis Lipschitz
Executive Vice President and Chief
Financial Officer
CONTACT: Lawrence A. Rand Louis Lipschitz
Kekst and Company Toys "R" Us, Inc.
437 Madison Avenue 461 From Road
New York, NY 10022 Paramus, NJ 07652
(212) 593-2655 (201) 368-5548
FOR: Toys "R" Us, Inc.
(NYSE: TOY)
FOR IMMEDIATE RELEASE
TOYS "R" US REPORTS SALES FOR THE HOLIDAY SELLING SEASON
PARAMUS, NEW JERSEY, JANUARY 6, 1997 -- Toys "R" Us, Inc. announced today
that its sales for the Holiday selling season (eight weeks ended December 28,
1996) increased 4% to $4.1 billion, compared to $3.9 billion for the same
period a year ago (eight weeks ended December 30, 1995). The Company also
said that its year-to-date sales (eleven months) rose 6% to $9.3 billion from
$8.8 billion in the same period last year.
Michael Goldstein, Chief Executive Officer, stated, "Our comparable U.S.A. toy
stores' sales increased 4% for the month of December but were flat for the full
1996 Holiday selling season. Despite the excitement generated in the video
hardware business with the release of Nintendo 64 and the presence of some hot
products such as Tickle Me Elmo, our results were affected, in part, by the
lack of software titles for the new video platforms and the lateness of the
Thanksgiving holiday. For the eleven months, comparable store sales
increased 2%.
Internationally, for this Holiday season, we are pleased that our Canadian
stores had double digit comparable store sales increases, driven by the
implementation of marketing and customer services initiatives as well as the
increase in the video business. In Japan, Spain and the United Kingdom our
comparable store sales were flat to slightly higher for the season, while
Germany and France experienced lower comparable store sales. Our Kids "R" Us
division reported an increase in comparable store sales for the Holiday selling
season."
Mr. Goldstein further stated, "Although our margin trend continues to be
stronger than last year, lower than expected Holiday sales will naturally have
an adverse impact on our anticipated 1996 earnings' growth. Nevertheless, we
are very pleased with our 1996 accomplishments including: the opening of 13
"Concept 2000" stores, our revolutionary new toy store design; the birth of our
new Babies "R" Us division; the signing of a merger agreement with Baby
Superstore; the opening of our two KidsWorld megastores and the completion of
our strategic inventory repositioning.
We leave 1996 with our inventory levels and assortment in excellent shape as
demonstrated by our U.S.A. and international toy stores reporting lower
inventory on a comparable store basis. We look forward to 1997 and the
continued strength in certain product categories such as video games and the
excitement that will be generated by great movie releases. Finally, we are
eagerly anticipating our merger with Baby Superstore which is on target to
close February 3, 1997. The merger plans have been finalized and the Toys
"R" Us and Baby Superstore personnel have done an outstanding job in preparing
for a seamless transition."
Toys "R" Us is the world's largest retailer of children's products currently
operating 680 toy stores in the United States, 396 international toy stores,
including franchise stores, 212 Kids "R" Us children's clothing stores, 6
Babies "R" Us stores and 2 KidsWorld stores. The merger with Baby Superstore
will add 78 stores to the Toys "R" Us family.
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