Toys ‘R’ Us culls $4 million in costs as it pursues strategic plan
E-commerce Children’s goods retailer Toys ‘R’ Us says its strategic turnaround plan announced in March is on track and it has already achieved cost savings of $4 million this year. To date, the company has improved its gross margin in the Australian direct-to-consumer e-commerce division from 16.4 per cent in February to 22.3 per cent in April. In a market update, the Australian-listed owner of the famous toy retailer’s operations in Australia, New Zealand and the UK, said it had…