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Article: Discounters' lower prices hitting toy retailers Also facing a holiday season without a hot item
- Article from:
- Chicago Sun-Times
- Article date:
- November 23, 2003
- Author:
CopyrightCopyright 2003 Chicago Sun-Times. (Hide copyright information)
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Heading into what's traditionally the hottest season for toys, top
toy retailers are in trouble and no action figure is likely to save
them.
Competition from discount stores and consumer electronics chains
that sell popular video games is shaking up the $21 billion toy
market. "Combine the fact that discounters are convenient and their
pricing better, then it's a hard battle," says Todd Kuhrt, a toy
retail analyst at FTN Midwest Research.
* Toys R Us lost $38 million in the third quarter, a 35 percent
bigger loss than a year ago. It plans to close its money-losing Kids
R Us clothing stores and Imaginarium stores. Sales were flat at $2.3
billion. Toys R Us is one of the few companies that ...