Both existing toy retailers and new players are fighting hard to gain the bankrupt toy retailer’s 12-per-cent market share in the U.S., Ben Gadbois, Spin Master’s global president and chief operating officer, told analysts after the company reported it incurred a $15.2-million (U.S.) bad debt expense in the first quarter, due to the travails of Toys “R” Us. TORONTO—Rival toy store chains are working on plans to win the market share Toys “R” Us left up for grabs following its bankruptcy and liquidation in the United States and Britain, Canadian toy maker Spin Master said Wednesday. The closing of Toys “R” Us stores in the United States and Britain will end an important sales venue for toy manufacturers. Canadian Toys “R” Us locations were bought by Fairfax Financial Holdings Ltd., which was the sole bidder in the auction process, offering $300 million. Spin Master says revenue for the quarter ended March 31 increased 25.5 per cent to $285.7 million from $227.7 million.

Source: thestar May 09, 2018 19:18 UTC