Toys"R"Us has started the holiday season earlier than expected, with its November business update forecasting a strong start to the FY, despite delivery delays and supply disruptions.
The toy retailer, which was acquired by Funtastic in November 2020, has reported a 139 percent increase for invoiced sales revenue (unaudited) on pcp, to $4.09 million.
Order volume for November rose by 81 percent on pcp to 31.2k. Furthermore, the AOV was $121.10, a 30 percent increase on pcp.
Cyber Weekend, which began on Wednesday, November 24, saw a massive increase for the retailer. Orders received increased by 84 percent on pcp to 12.1k, and the AOV was $127.9, a further 33 percent increase on pcp.
“Despite challenges arising from delivery delays to our shoppers and associated order backlogs, we are pleased with the strong growth rate of Toys“R”Us, a tribute to the efforts and cohesive teamwork of our employees,” said Louis Mittoni, the CEO and Managing Director of Toys”R”Us.
The increased order volumes in addition to the Cyber Weekend sales have led to the delay of next-day delivery services, which have been pushed back until Q1 2022. The retailer explained that the introduction of new services would be an ‘unacceptable risk’ to already busy operations.
Looking to the future, Toys”R”Us plans to complete the expansion of its new 19,650 m2 e-commerce fulfilment facility in Victoria. Moreover, the retailer will expand globally, first launching into the UK.
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