玩具反斗城Toys R Us（FUN）2016年年度报告「ASX」.pdf

1、2016Annual ReportContentsChairman&CEOs Report 1Financial Report 4NEWN NE EWWWN NE EWW1FuntasticAnnualReport2016The story so farTwo years ago the company conducted a strategic review of its business and market and identified an emerging trend of escalated retailer disruption to the traditional supply

2、 chain model which would negatively impact local suppliers.As a result,it embarked on a plan to restructure its business model to reduce the reliance of supplying agency products to a concentrated retail channel in Australia.This plan required investment in resourcing,capability,capital expenditure

3、and the establishment of new third party relationships to facilitate the development of new product IP and global distribution channels.Whilst foundations have been set,the process of researching and testing various business models to best establish and manage its new product development processes a

4、nd global distribution channels,has taken longer than originally anticipated.Despite the delays,the company has exciting new prospects in terms of product and distribution opportunities that will further add to its efforts to diversify.The market environment in Australia has continued to be challeng

5、ing with two of the companys major customers embarking on their own transformation plans and leadership changes that have impacted on the short term performance ofthe business.It is anticipated that outcomes of these plans will lead to increased vertical integration resulting in further consolidatio

6、n of their traditional supplier base.Whilst challenging,this further confirms the validity of our diversification strategy.ResultsThe Groups Earnings Before Interest,Depreciation and Amortisation(EBITDA)from continuing operations was a loss of$8.2m before accounting for an impairment charge of$6.4m.