Business Editors
ATLANTA--(BUSINESS WIRE)--July 13, 2000
Toys "R" Us, Inc. (NYSE: TOY), the world's leading resource on kids, families and fun announced today the signing of a national agreement with Atlanta-based Service Resources to provide their integrated facility management outsourcing solution for the next five years. During the term of the agreement, Service Resources is projected to deliver significant operational savings, while managing the 50+ million square-foot portfolio of Toys"R" Us, Kids "R" Us, Babies "R" Us and Imaginarium stores and distribution center facilities throughout the United States.
Within the agreement, Service Resources will negotiate and manage all utility services such as electricity, natural gas, water and sewer contracts; provide all building maintenance and repair services; and manage subcontracting, waste and other facility support services.
"Our strategic outsourcing direction with Service Resources has significant implications for our customers and shareholders alike", said Michael Shannon, president, administration and logistics of Toys "R" Us. "Service Resources' focus on facility-related concerns will allow our 60,000+ store associates to focus on what they do best - delivering the ultimate shopping experience to our customers. From an investor perspective, applying these savings toward our earnings per share clearly enhances our market appeal."
"Having the premier toy retailer in the United States as our business partner is quite an honor," said Robert C. Dickhaus, president and CEO of Service Resources. "We now share the direct responsibility with Toys "R" Us in producing an impressive, comfortable and enjoyable retail environment for millions of families who visit their facilities each month. Using our innovative web-based technologies and our unique facility management and energy procurement processes, we are able to further enhance existing Toys "R" Us strategies relative to overall customer satisfaction and cost savings."
Toys "R" Us joins more than 30 other major corporations in leveraging Service Resources' industry-leading outsourcing solution to facilitate corporate-wide operational savings. Through the recent addition of several major contracts, Service Resources has become the largest facility management firm in North America serving the retail market.
About Toys "R" Us
Toys "R" Us, the world's leading resource on kids, families and fun currently operates 1557 stores: 707 toy stores in the United States; 473 international toy stores, including franchise stores; 201 Kids "R" Us children's clothing stores; 136 Babies "R" Us stores and 40 Imaginarium stores. The company also sells merchandise through its Internet sites at www.toysrus.com and www.imaginarium.com and through mail order catalogues. For more information, access their web site at www.toysrus.com.
About Service Resources, Inc.
Service Resources, Inc., headquartered in Atlanta, is the nation's leading integrated facility management provider, currently managing more than 240 million square-feet of real estate. The company delivers total energy management and facility maintenance solutions that support overall client investments exceeding $2 billion. Recognized by Dun & Bradstreet in 1999 as one of the "Hot 100" fastest-growing new businesses in the United States, Service Resources maintains more than 31,000 facility locations and is one of the largest energy procurement firms in North America. For more information on the total outsourcing solutions they deliver, access their web site at www.serviceresourcesinc.com.