NEW YORK: Toys 'R' Us Inc, the world’s largest toy store chain, is seeking a buyer for its toy business and may spin off its baby products division after losing sales to discount retailers such as Wal-Mart Stores Inc.
Toys 'R' Us, which traces its roots back to 1948 and was among the first big-box specialty retailers, expects the restructuring to take place by the first half next year. Toys 'R' Us vice-chairman Richard Markee, who was a founder of the babies stores, was appointed president of Babies 'R' Us and would add the title of chief executive after the spin off, the company said in a statement.