Toys ‘R’ Us, the children’s goods retailer, has announced that its strategic turnaround plan, announced in March, is on track and has already achieved cost savings of $4 million this year. According to a market update, the company has improved its gross margin in the Australian direct-to-consumer e-commerce division from 16.4 per cent in February to 22.3 per cent in April.
Toys ‘R’ Us, the children’s goods retailer, has announced that its strategic turnaround plan, announced in March, is on track and has already achieved cost savings of $4 million this year. According to a market update, the company has improved its gross margin in the Australian direct-to-consumer e-commerce division from 16.4 per cent in February to 22.3 per cent in April.
The company has also entered into an amended finance facility agreement as part of its strategic plan that will provide $1.5 million of credit to continue its reorganisation. In addition, Toys ‘R’ Us has appointed a commercial director in the UK and shortlisted applicants for a new MD for the Australia and New Zealand business.
The company has appointed a commercial director in the UK and shortlisted applicants for a new MD for the Australia and New Zealand business.
Sources: https://internetretailing.com.au/toys-r-us-culls-4-million-in-costs-as-it-pursues-strategic-plan/
