Dive Summary:

• Toys “R” Us is reporting their second quarter sales totals took a dive at stores based in the U.S. and Europe. Same stores sales declined 3.5% in the U.S.
• The toy store chain announced a total loss in revenue of 6.9% for the quarter, reaching a dollar amount that exceeds $113 million.
• The company stated that a decline in demand for video game hardware and software was a factor in the results, but remains optimistic on future sales potential.

From the article:

“We believe that the initiatives we have recently announced in the U.S., including an enhanced Price Match Guarantee and a comprehensive suite of programs to encourage early buying, in combination with our expertise in the identification and ownership of the hottest toys, will strongly appeal to consumers as they develop their holiday shopping lists,” he said.