Toys ‘R’ Us slumps

(Bloomberg) Toys “R” Us Inc., the closely held retailer that canceled its initial public offering in 2013, posted a decline in holiday sales for at least the third year in a row. Same-store sales for the nine weeks through Jan. 4 fell 2.7 percent as the chain used fewer promotions to protect profitability, the Wayne, New Jersey-based company said Friday in a statement. Revenue by that measure declined 5 percent in the U.S., where it generates about 60 percent of its sales. The world’s largest toy chain, which is owned by Bain Capital Partners, KKR & Co. and Vornado Realty Trust, has struggled to boost sales amid more competition from Amazon.com and a sluggish toy industry that’s losing kids to electronics earlier than ever.