• With: Jerry Storch, Toys "R" Us CEO

    STORCH: Well, the regular price is $79.99, so it depends on when you get it. We try to put it on sale a lot. And we have coupons and other things in the store. But it is a great bargain on Black Friday.

    BOLLING: You're saving $30 to shop...

    (CROSSTALK)

    BOLLING: And that is why people flock to the stores on Black Friday.

    STORCH: Well, of course.

    BOLLING: What percentage of your inventory, of your merchandise is marked down for Black Friday?

    STORCH: It's huge. We have 32 pages of toys on sale for Black Friday, 200 door busters starting at 8:00 p.m.

    BOLLING: Right.

    STORCH: The top -- the first 200 families in line at 8:00 p.m. each of them get a gift bag full of $30 in free toys and then more sale items throughout...

    (CROSSTALK)

    BOLLING: Let's talk bigger picture here very quickly.

    We talk about the fiscal cliff a lot. It is on Americans' mind. They're worried about what their tax structure is going to look like going forward. Are people pulling back a little bit because of what may happen January 1?

    STORCH: Well, certainly people are concerned about value, I'll tell you that. That's why we see the kind of enormous response we see to days like Black Friday.

    They're looking for bargains. That much, I will say. The other thing is, in the toy business, what we see is, good times and bad, the last thing parents cut back is a holiday present for their kids. So ever during the very negative times in the fall of 2008 and 2009, our sales grew around the world.

    BOLLING: I got to go, but are you worried about the fiscal cliff on a corporate level?

    STORCH: Well, I think they are going to solve it. That is my bet.

    So, we will have to see what happens. You know, the broader economic picture remains to be seen. As someone who sells toys, though, I am comfortable with the business we're in.

    BOLLING: Have you held back hiring people until you find out if we go off the fiscal cliff?

    STORCH: We hire people because we have to, to provide the service. We can't slight the business for some other purpose. So we hired 45,000 seasonal employees this year, more than last year.

    BOLLING: All right.

    Jerry Storch, thank you very much, CEO of Toys "R" Us. Thank you, sir.

    STORCH: Thank you.

    BOLLING: All right.

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