|To Our Valued Customers,
I want to take a moment to thank you for your continued support of Toys”R”Us. As you may be aware, we launched a financial restructuring of our business last fall. As we begin the new year, I want to provide an update on our progress to date, as well as our plans for the future.
Our primary focus is on reimagining our business with you in mind. We want to make it easier for you to shop with us, whether online or in our stores. This past season, we were successful in accomplishing this objective for millions of customers. However, there were also far too many transactions where this wasn’t the case - due to our operational missteps. As the leader of this company, I want you to know that we can and will address the gaps in the experience that you may have had when shopping this holiday. My team is already hard at work to make the improvements necessary to ensure that we have the products you want, when, where and how you want them.
In addition to convenience, we also recognize that you want fair and competitive prices and it is our job to deliver on that expectation. We recently relaunched our price match program to give you greater confidence when buying from us, and in 2018 we are taking additional steps to ensure that we provide greater overall value to you and your family. We will do this through compelling promotions and by providing an improved loyalty program and a more personalized way of communicating with you - in email, online and social media.
The reinvention of our brands requires that we make tough decisions about our priorities and focus. To that end and following a top-to-bottom assessment of our business, we have decided to close a number of our U.S. stores. We also intend to convert a number of locations into co-branded Toys”R”Us and Babies”R”Us stores. The actions we are taking are necessary to give us the best chance to emerge from our bankruptcy proceedings as a more viable and competitive company that will provide the level of service and experience you should expect from a market leader.
We estimate store closing sales to begin in early February with the majority of locations closing in mid-April 2018. During this time, we welcome you to take full advantage of the deep discounts and deals available.
Here are a few things to keep in mind:
- We are open for business and ready to serve you. We will continue to operate stores in all major markets across the U.S. and around the world. And as always, you can also continue to shop online at www.toysrus.com and www.babiesrus.com.
- We are honoring customer programs. Our customer, registry, credit, warranty and loyalty programs will continue as normal. We will continue to sell and accept gift cards as always.
While our store roster may be getting smaller, what is not changing is our desire or commitment to serving you. For the past 70 years, we have worked hard to earn your business and look forward to being champions of play and a best friend to parents everywhere for decades to come.
Thank you for your support and for choosing to shop with us.