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<title>Toys &quot;R&quot; Us, Inc. Form 8-K 12282004</title>
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<div>

<p align="center">&nbsp;</p>

<p align="center"><b><font size="3">UNITED STATES<br />
SECURITIES AND EXCHANGE COMMISSION<br />
Washington, D.C.&nbsp;&nbsp;20549<br />
</font></b></p>

<div align="center">
<hr size="2" width="240" noshade color="black" align="center" />
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<p align="center"><b><font size="3"><br />
</font><font size="5">FORM 8-K</font><br />
<br />
<br />
CURRENT REPORT<br />
PURSUANT TO SECTION 13 OR 15(d) OF THE<br />
&nbsp; SECURITIES EXCHANGE ACT OF 1934<br />
<br />
</b></p>

<p align="center"><font size="3">Date of report (Date of earliest event reported): &nbsp;&nbsp;December
28, 2004 (December 22, 2004)</font></p>

<p align="center">&nbsp;</p>

<div align="center">
<table border="0" cellspacing="0" cellpadding="0" width="621">
<tr>
<td colspan="5" valign="bottom" width="597">
<p align="center"><b><u><font size="3">TOYS &ldquo;R&rdquo; US, INC.</font></u></b></p>
</td>
</tr>

<tr>
<td colspan="5" valign="bottom" width="597">
<p align="center"><font size="3">(Exact Name of Registrant as Specified in Charter)</font></p>
</td>
</tr>

<tr>
<td valign="bottom" width="152">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="16">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="164">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="36">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="189">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>

<tr>
<td valign="bottom" width="205">
<p align="center"><b><u><font size="3">&nbsp;&nbsp; Delaware&nbsp;&nbsp;&nbsp;</font></u></b></p>
</td>
<td valign="bottom" width="16"></td>
<td valign="bottom" width="164">
<p align="center"><b><u><font size="3">&nbsp;&nbsp; 1-11609&nbsp;&nbsp;&nbsp;</font></u></b></p>
</td>
<td valign="bottom" width="36"></td>
<td valign="bottom" width="189">
<p align="center"><b><u><font size="3">&nbsp;&nbsp; 22-3260693&nbsp;&nbsp;&nbsp;</font></u></b></p>
</td>
</tr>

<tr>
<td valign="bottom" width="205">
<p align="center"><font size="3">(State or Other Jurisdiction<br />
 of Incorporation)</font></p>
</td>
<td valign="bottom" width="16"></td>
<td valign="bottom" width="164">
<p align="center"><font size="3">(Commission<br />
 File Number)</font></p>
</td>
<td valign="bottom" width="36"></td>
<td valign="bottom" width="189">
<p align="center"><font size="3">(IRS Employer<br />
 Identification No.)</font></p>
</td>
</tr>

<tr>
<td valign="bottom" width="205">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="16">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="164">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="36">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="189">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>

<tr>
<td colspan="5" valign="bottom" width="614">
<p align="center"><b><font size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp; One Geoffrey Way,&nbsp;Wayne, New Jersey
07470&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></b></p>
</td>
</tr>

<tr>
<td colspan="5" valign="bottom" width="614">
<p align="center"><font size="3">(Address of Principal Executive Offices,
including Zip Code)</font></p>
</td>
</tr>

<tr>
<td valign="bottom" width="205">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="16">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="164">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="36">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="189">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>

<tr>
<td colspan="5" valign="bottom" width="616">
<p align="center"><b><u><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(973) 617-3500&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></b></p>
</td>
</tr>

<tr>
<td colspan="5" valign="bottom" width="616" align="center"><font size="3">Registrant&rsquo;s Telephone Number, including
  Area Code</font></td>
</tr>

<tr>
<td valign="bottom" width="205">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="16">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="164">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="36">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="bottom" width="189">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>

<tr>
<td colspan="5" valign="bottom" width="597">
<p align="center"><font size="3">____________________________</font></p>
</td>
</tr>

<tr>
<td colspan="5" valign="bottom" width="597">
<p align="center"><font size="3">(Former Name or Former Address, if Changed
Since Last Report)</font></p>
</td>
</tr>

<tr>
<td colspan="5" valign="bottom" width="597"><br>
</td>
</tr>

</table>
</div>

<div align="center">
  <center>
  <table border="0" width="70%">
    <tr>
      <td width="100%">
        <p align="left"><font size="2">Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy
        the filing obligation&nbsp;<br>
 of the registrant under any of the following provisions (see General
        Instruction A.2. below):</font></p>
        <p align="left"><font size="2">[&nbsp;&nbsp;] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
        [&nbsp;&nbsp;] Soliciting material pursuant to Rule 14a-12 under the
        Exchange Act (17 CFR 240.14a-12)<br>
        [&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
        [&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></td>
    </tr>
  </table>
  </center>
</div>

<p align="center">&nbsp;</p>

<div align="center">
<hr size="2" width="100%" noshade color="navy" align="center" />
</div>

<p>&nbsp;</p>

<table border="0" cellspacing="0" cellpadding="0">
<tr>
<td valign="top">
<p><b><u><font size="3">Item 1.01.</font></u></b></p>
</td>
<td valign="top"></td>
<td valign="top"></td>
<td valign="top">
<p><b>Entry into a Material Definitive Agreement.</b></p>
</td>
</tr>

<tr>
<td valign="top"></td>
<td valign="top"></td>
<td valign="top"></td>
<td valign="top">&nbsp;</td>
</tr>

<tr>
<td valign="top"></td>
<td valign="top"></td>
<td valign="top"></td>
<td valign="top">
Toys &quot;R&quot; Us, Inc. (the &quot;Company&quot;) has communicated orally to
its Executive Officers, Ray Arthur, John Barbour, Deborah Derby, James Feldt,
Christopher Kay and Richard Markee, that they are eligible to receive a
retention/success bonus in conjunction with their work as part of the Company's
ongoing strategic review. To receive this bonus the executive officer must be
actively employed by the Company at the time the toys and babies businesses are
separated. Retention/success bonuses will equal one or two times the officer's
base salary at that time, depending on the structure of an eventual transaction.
No written bonus agreements have yet been entered into reflecting the detailed
terms of this obligation. This bonus will be in addition to any other
compensation or benefits for which the executive may otherwise be eligible.
</td>
</tr>

<tr>
<td valign="top"></td>
<td valign="top"></td>
<td valign="top"></td>
<td valign="top"></td>
</tr>

<tr>
<td valign="top">
<p></p>
</td>
<td valign="top">
<p><b><font size="3">&nbsp;</font></b></p>
</td>
<td valign="top">
<p><b><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b></p>
</td>
<td valign="top">
<p></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top"></td>
<td valign="top"></td>
<td valign="top"></td>
</tr>

<tr>
<td valign="top">
<p></p>
</td>
<td valign="top">
<p><font size="3">&nbsp;</font></p>
</td>
<td valign="top"></td>
<td valign="top">
<p></p>
</td>
</tr>

<tr>
<td valign="top"><br>
</td>
<td valign="top"></td>
<td valign="top"></td>
<td valign="top"></td>
</tr>

</table>

<div align="center">
<hr size="2" width="100%" noshade color="navy" align="center" />
</div>

<p align="center">&nbsp;</p>

<p align="center"><b><font size="3">SIGNATURES</font></b></p>

<p align="center">&nbsp;</p>

<p>Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.</p>

<div align="center">
<table border="0" cellspacing="0" cellpadding="0">
<tr>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="left"><b><u><font size="3">Toys &ldquo;R&rdquo; Us, Inc.</font></u></b></p>
</td>
</tr>

<tr>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p align="center"><font size="3">Date:</font> &nbsp;&nbsp;December 28, 2004</p>
</td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p><font size="3">By:&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p><u><font size="3">/s/ Raymond L. Arthur</font></u></p>
</td>
</tr>

<tr>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top">
<p><font size="3">Raymond L. Arthur</font></p>
</td>
</tr>

<tr>
<td valign="top"></td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top"></td>
<td valign="top">
<p><font size="3">Executive Vice President -</font></p>
</td>
</tr>

<tr>
<td valign="top"></td>
<td valign="top">
<p align="center"><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
</td>
<td valign="top"></td>
<td valign="top">
<p><font size="3">Chief Financial Officer</font></p>
</td>
</tr>
</table>
</div>

<p align="center">&nbsp;</p>

<div align="center">
<hr size="2" width="100%" noshade color="navy" align="center" />
</div>

</div>
</body>
</html>
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{"company-data": {"conformed-name": "TOYS R US INC", "cik": "0001005414", "assigned-sic": "5945", "irs-number": "223260693", "state-of-incorporation": "DE", "fiscal-year-end": "0130"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-11609", "film-number": "041228925"}, "business-address": {"street1": "TOYS", "street2": "ONE GEOFFREY WAY", "city": "WAYNE", "state": "NJ", "zip": "07470", "phone": "9736173500"}, "mail-address": {"street1": "TOYS", "street2": "ONE GEOFFREY WAY", "city": "WAYNE", "state": "NJ", "zip": "07470"}}
Toys "R" Us, Inc. Form 8-K 12282004
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):   December
28, 2004 (December 22, 2004)
TOYS "R" US, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware
1-11609
22-3260693
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
One Geoffrey Way, Wayne, New Jersey
07470
(Address of Principal Executive Offices,
including Zip Code)
(973) 617-3500
Registrant's Telephone Number, including
  Area Code
____________________________
(Former Name or Former Address, if Changed
Since Last Report)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy
        the filing obligation
of the registrant under any of the following provisions (see General
        Instruction A.2. below):
[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ] Soliciting material pursuant to Rule 14a-12 under the
        Exchange Act (17 CFR 240.14a-12)
[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.
Entry into a Material Definitive Agreement.
Toys "R" Us, Inc. (the "Company") has communicated orally to
its Executive Officers, Ray Arthur, John Barbour, Deborah Derby, James Feldt,
Christopher Kay and Richard Markee, that they are eligible to receive a
retention/success bonus in conjunction with their work as part of the Company's
ongoing strategic review. To receive this bonus the executive officer must be
actively employed by the Company at the time the toys and babies businesses are
separated. Retention/success bonuses will equal one or two times the officer's
base salary at that time, depending on the structure of an eventual transaction.
No written bonus agreements have yet been entered into reflecting the detailed
terms of this obligation. This bonus will be in addition to any other
compensation or benefits for which the executive may otherwise be eligible.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Toys "R" Us, Inc.
Date:
December 28, 2004
By:
/s/ Raymond L. Arthur
Raymond L. Arthur
Executive Vice President -
Chief Financial Officer