Toys 'R' Us' 600 holiday shops = 10,000 jobs

By Ben Rooney, staff reporter


NEW YORK (CNNMoney.com) -- Toys "R" Us said Thursday that it plans to open about 600 temporary stores across the nation, more than six times last year's count, and hire some 10,000 workers for the holiday season.

The retailer said it began opening the Toys "R" Us Express locations in June. About 300 of the "pop-up" stores have already opened in malls and shopping centers nation wide, Toys "R" Us said in a press release. Last year, the company opened 90 Express stores.

To staff the new locations, most of which will close in January, the company plans to hire an estimated 10,000 associates. The temporary positions would be in addition to the seasonal hiring Toys "R" Us does every year at its permanent locations.

"We are pleased that this significant expansion of our Toys"R"Us Express initiative also creates thousands of new jobs beyond our usual seasonal workforce build," chief executive Jerry Storch said in a statement.

The company said it will look for opportunities to keep certain temporary stores open after the holiday. It converted four Express stores into permanent locations last year.

The announcement came as Toys "R" Us looks to become more competitive with big-box stores Target (TGT, Fortune 500) and Wal-Mart (WMT, Fortune 500) ahead of the all-important holiday sales period, when retailers make the bulk of their profits.

Toys "R" Us, which operates 1,560 stores in the United States and 510 overseas, announced plans in late May to raise $800 million in stock through an initial public offering, which has yet to occur.

The Wayne, N.J.-based retailer has been privately held since 2006, when investors KKR Group, Bain Capital and Vornado Realty Trust took over the company in a $6.6 billion leveraged buyout.  To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 18,080.14 21.45 0.12%
Nasdaq 5,092.09 36.02 0.71%
S&P 500 2,117.69 4.76 0.23%
Treasuries 1.92 -0.03 -1.54%
Data as of 10:25pm ET
Company Price Change % Change
Microsoft Corp 47.87 4.53 10.45%
Apple Inc 130.28 0.61 0.47%
Comcast Corp 59.64 0.41 0.69%
AT&T Inc 34.01 -0.22 -0.64%
Xerox Corp 11.99 -1.15 -8.75%
Data as of Apr 24
Sponsors

Sections

Shares in Italian bank Intesa Sanpaolo dropped sharply Friday after hoaxers claimed its CEO had quit after faking billions in profits. More

The impact of rising immigration on Britain's economy has become a hot topic in the election campaign. More

Stars of Youtube, Vine, Snapchat, and Twitter are attending this year's White House Correspondents' Dinner. More

A Girl Scouts Cookie Oven rolling out to Wal-Mart, Target, Kmart stores this summer will let you bake those iconic thin mints right at home. More