Toys R Us CEO optimistic about holiday shopping season
Storch says parents look for durable and trusted brands
New York : Toys R Us Inc Chief Executive Jerry Storch said he is "optimistic" about the holiday shopping season after scores of parents flocked to stores to pick up the season's favourite toys like Zhu-Zhu Pets hamsters and classic Lego on Black Friday.
"Parents will cut back on luxuries for themselves ... but not on holiday presents for their child," Storch said.
Storch said Zhu-Zhu Pets were the hottest toy of the year and added the toy retailer also saw steady demand for classic toys like Lego as parents look for durable and trusted brands as gift options.
"Legos show exactly where the customer mind is," Storch said in an interview.
"They want to get a value, but that doesn't mean rushing to the cheapest solution," he said, adding Legos "are anything but cheap."
The world's largest dedicated toy retailer, however, saw a fall in sales of video games like Nintendo's Wii.
Toys R Us, which has boosted its presence on social networking sites like Facebook and also offer shoppers a layaway plan to buy holiday gifts, also plans to open more "R" superstores next year, its chief executive said.
The "R" superstores combine full-size Toys"R"Us and Babies"R"Us stores under one roof.
