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Toys R Us issued a stunning statement Wednesday that it plans to split off the babies-related division and sell the main toys business. In an 'update' on the company's strategic review, the struggling group said it had decided to separate the global toys and the Babies R Us businesses but it had not yet decided how to do so. 'As part of this comprehensive review, the company is taking steps, among other actions, to explore the possible sale of the global toy business as well as to prepare for a possible spin-off of Babies R Us,' the statement said. In the meantime, the board had decided to operate the baby-related and global toys businesses as separate entities within the current corporate structure. Toys R Us, hurt by competition with major discounters such as Wal-Mart, said it also would restructure the toy business to 'dramatically reduce operating and capital expenses' and boost cash flow.
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