"I am very disappointed with the result, but we no longer have the financial support to continue the company's USA operations", said Dave Brandon, chairman and chief executive officer of Toys R Us. Overall, the store was a sad vision of what's to come as Toys R Us closes locations.
While we still believe Mattel's shares are significantly undervalued, we believe near-term headline risk surrounding the Toys "R" Us liquidation could continue to weigh on shares over the next several months before stability in share performance could resume.
With liquidation looming, Toys R Us' days are numbered, and savy shoppers are hoping to cash in on going out of business sales. The teen jewelry and accessories giant Claire's is another retail giant that has succumbed to financial troubles, declaring bankruptcy and announcing the closure of over 90 stores around the country.
Single $456.7M Powerball ticket sold in Pennsylvania
The ticket matched the winning numbers 22, 57, 59, 60, 66, and the Powerball number 7, the television station reported. The winning ticket was sold at the Speedway store on Lancaster Road in Manheim, Lancaster County.
- KB Toys, the chain of shopping mall stores that closed in 2009, is considering a comeback.
Are you already missing Toys "R" Us?
"My assumption is that there's about half a billion dollars worth of toys that have been produced for Toys "R" Us with no place to go", Strategic Marks president Ellia Kassoff told CNNMoney. The company filed for Chapter 11 bankruptcy protection in September. In addition to toys and board games, Toys R Us sells electronics and video games, all of which will likely be heavily discounted up until the day the store closes. Kids are still playing with toys, Lennett said, and parents will look to other retailers to purchase them.