tes only 97 stores outside of the United States, while operating 631 stores in the United States (Kotik 1717). Responding to this situation, Toys "R" Us has expanded its international development effort.
The specialty lines segment of the retail industry has been hard hit by the economic recession in the United States (Markey 1665). Further, the massive level of consumer debt built up in the 1980s threatens any significant improvement in retail sales through the mid 1990s (Schlossberg 8 9). The Value Line Investors Service, however, takes a more optimistic approach to consumer debt levels, holding that baby boomers will soon enter their higher income producing years, and will, thus, be able to handle their debt loads while continuing to spend freely (Markey 1665). Value Line, it should be noted, also bought the Bush Administration line, and predicted that the American economy would emerge from recession in mid 1991 (Markey 1665).
Consumer confidence in the United States is, in May 1991, lower than it was at the depth of the economic recession of 1
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