Audio – Retail just like the old days … the REALLY old days!
Toys “R” Us Chief Executive Jerry Storch has expansion on his mind.
Storch, one of the featured guests at this year’s annual Reuters Consumer and Retail Summit, said on Tuesday he was trying to improve the mix and locations of its stores.
Adding new locations is a tricky proposition for any company, especially one that is so dependant on consumers having spare cash to buy discretionary goods like toys and games.
But Storch said he’s harkening back to ancient times — like the Romans or the Greeks … a LONG time ago — when shoppers congregated in one main area to buy all their wares, and has no problem seeing Toys “R” Us as playing a part in those concepts — he doesn’t even really seem to mind too much if he is located near a competitor.
The CEO also said that one of the keys to their success is that their stores are in the right locations. So, while adding new stores is definitely part of his plan, relocating underperforming stores is also on the docket.
Storch spoke to Reuters reporters and editors in our New York headquarters and the summit continues through Thursday in New York and London.