AGL 40.80 Decreased By ▼ -0.70 (-1.69%)
AIRLINK 127.98 Decreased By ▼ -0.02 (-0.02%)
BOP 6.50 Increased By ▲ 0.24 (3.83%)
CNERGY 4.17 Increased By ▲ 0.04 (0.97%)
DCL 8.45 Increased By ▲ 0.01 (0.12%)
DFML 40.90 Increased By ▲ 0.21 (0.52%)
DGKC 87.20 Decreased By ▼ -0.70 (-0.8%)
FCCL 33.85 Decreased By ▼ -0.25 (-0.73%)
FFBL 66.05 Decreased By ▼ -0.28 (-0.42%)
FFL 10.55 Decreased By ▼ -0.01 (-0.09%)
HUBC 110.20 Increased By ▲ 1.50 (1.38%)
HUMNL 14.96 Increased By ▲ 0.50 (3.46%)
KEL 4.84 Increased By ▲ 0.19 (4.09%)
KOSM 7.65 Increased By ▲ 0.32 (4.37%)
MLCF 42.15 Decreased By ▼ -0.57 (-1.33%)
NBP 61.50 Increased By ▲ 0.66 (1.08%)
OGDC 179.00 Increased By ▲ 0.03 (0.02%)
PAEL 25.95 Increased By ▲ 0.25 (0.97%)
PIBTL 6.26 Increased By ▲ 0.20 (3.3%)
PPL 146.70 Increased By ▲ 0.55 (0.38%)
PRL 24.63 Decreased By ▼ -0.28 (-1.12%)
PTC 16.21 Increased By ▲ 0.07 (0.43%)
SEARL 70.20 No Change ▼ 0.00 (0%)
TELE 7.40 Increased By ▲ 0.18 (2.49%)
TOMCL 36.51 Increased By ▲ 0.31 (0.86%)
TPLP 7.88 Increased By ▲ 0.04 (0.51%)
TREET 15.73 Increased By ▲ 0.14 (0.9%)
TRG 52.30 Increased By ▲ 1.94 (3.85%)
UNITY 27.20 Increased By ▲ 0.30 (1.12%)
WTL 1.26 Increased By ▲ 0.02 (1.61%)
BR100 9,839 Increased By 44.1 (0.45%)
BR30 29,897 Increased By 250.1 (0.84%)
KSE100 92,436 Increased By 414.8 (0.45%)
KSE30 28,738 Increased By 73.6 (0.26%)

Toys"R"Us is to shut a quarter of its British stores, with a loss of up to 800 staff, the troubled US retailer's UK arm announced on Monday. The US company, which recently filed for bankruptcy in its home market as it struggles to compete with the likes of Amazon, said its larger UK stores no longer made economic sense and that the future lay with smaller outlets.
"Like many UK retailers in today's market environment, we need to transform our business so that we have a platform that can better meet customers' evolving needs," said Steve Knights, managing director of Toys"R"Us UK. "Our newer, smaller, more interactive stores are in the right shopping locations and are trading well, while our new website has generated significant growth in online and click-and-collect sales."
Knights added that the group's warehouse-style stores opened in the 1980s and 1990s had become too expensive to operate. The group will shut at least 26 stores, beginning early next year. A source told AFP that between 500 and 800 staff from a total of 3,200 could lose their jobs.

Comments

Comments are closed.