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PACIFIC WATCH

June 14, 1993|From Times Staff and Wire Reports

Toys R Us Announces Openings: Toys R Us, the world's largest toy retailer, said it plans to open between eight and 10 stores a year in Australia over the next three years. "We have named seven (sites), and we are actually negotiating on additional sites," said Carl Olsen, Toys R Us managing director for Australia. The Paramus, N.J.-based company said a Melbourne central business district site will be one of its seven Australian stores to open in September. But Olsen declined to provide sales or market share targets. Australia's largest retailer, Coles Myer, is estimated to have 50% to 60% of Australia's $1.2-billion-a-year toy market.

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