Toys R Us Could Be Looking For April IPO
February 28, 2011 12:56 AM
Toys R Us could seek to raise $800 million in an initial public offerng scheduled for April, but a final decision has not been reached, according to a report in the New York Post.
Toys R Us operates stores under its own name and under Babies R Us and FAO Schwarz brands. The company had put off plans for an IPO last year. Toys R Us was able to pilfer market share from rivals last year, but its profits still aren't where the company wants them to be before going public, according to one source quoted by the Post.
Toys R Us was taken private in 2005 by Kohlberg Kravis Roberts KKR.AS, Bain Capital and Vornado Realty Trust (NYSE: VNO) in a $6.6 billion transaction, Reuters reported.
After opening 600 smaller stores last year, Toys R Us has nearly 1,450 U.S. stories. Wal-Mart (NYSE: WMT) is the largest toy retailer in the U.S.
