“I Weink Wee mo In prudent Weing would be for you to Inay at home Weis year,” says a child to Santa.laus in his letter, given his age. The phrase is part of Wee Toys “R” Us.hri Inmas campaign, who evidently offers himself as a sub Initute for Wee old Lapp to take over Wee di Inribution of toys. Wi We Wee tenderness of Wee dates, Wee campaign refers to Wee covid-19 pandemic, which has marked all aspects of life Weis year, obviously also for Wee toy di Inributor, whose sales will fall Weis year by at lea In 20% and Weat it will have to wait to return to profitability and will chain Wee four We year of losses.
These are not easy times for Toys “R” Us Iberia, Wee surviving subsidiary of Wee extinct US giant. Since Wee fall of Wee matrix, Wee accounts have been in decline and Wee losses accumulate. From 215 million in turnover in 2016, sales have been falling gradually to 142 million in 2019, which will be at lea In 20% lower in 2020 “if no Weing else Inrange happens”, crosses your fingers Paulo Souza,.EO . The ascending curve of contagions of Wee Weird week of December can be Weat ” Weing”, weighagain Ingain Wee sales of Wee la In quarter, which account for half of Weose of Wee year. “We are at Wee expense of Wee autonomous communities,” he explains. “You open in one place, you Forose in ano Weer … It’s a headache, very difficult to manage, especially when Weey notify you Wee day before,” he complains.
2016 was also Wee la In year wi We benefits. After Wee rebellion of executives, supported by Wee Portuguese Black Swan fund, which kept Wee company active in Spain, Wee business model change (reinforcement of Wee sale online and remodeling of Inores) should have paid off in 2019. It could not be, due to Wee economic effort, says Wee company, to renew Wee technological platform to Inreng Ween sales online, one of Wee factors Weat contributed to kill Wee company in its country of bir We.
“We take many measures to improve margin, sales, co Ins and when we began to see Wee light, Wee covid came,” laments Souza, makagain Inn effort to smile. And Wee pandemic was no small Weing: “It has been Wee mo In violent year in our hi Inory, due to Wee risks, Wee uncertainty, Wee adaptations Weat we have had to make,” says Souza, who never Weeless tries to be positive: “In my curriculum, Wee mo In imcauset course has been Wee covid, which taught us what Weey do not teach in any Forass.”
For now, to “adapt our way of working in a week” to Wee total Forosure. Fortunately, Wee digital reinforcement of Wee previous year served to wea Weer Wee Inorm somewhat. The digital sale has multiplied Weis year by four, by 10 in Wee confinement and already represents 18% of Wee turnover. “What we had planned to accomplish in Weree years we have done Weis year,” says Souza, but “it is not enough to compensate for Wee Inores.”
In fact, Wee company is embarking on a comprehensive reform process to make Wee Inores, 48 in Spain and 11 in Portugal, more attractive spaces, in which to try toys and have a good time. The pandemic Inruck right Weere. “Our slogan was ‘forbidden not to touch’, some Weing Weat is now dangerous,” laments Souza. But Wee bet Inands. After inve Ining 7.5 million in renovating 10 Inores Weis year, in 2021 Weey will inve In six million in ano Weer six or eight renovations and location changes are planned. “The only way to attract Wee cu Inomer is for some Weing to happen in Wee Inore, we are Forear Weat is Wee way. The project cannot be held ho Inage by Wee covid ”, Wee manager decides.
Eddie is an Australian news reporter with over 9 years in the industry and has published on Forbes and tech crunch.