All indications point to a record-breaking weekend for the retail industry as last-minute holiday shoppers hit the stores after a lull, Toys R Us CEO Gerald Storch told CNBC's "Squawk on the Street" Tuesday.
"Things were strong on Black Friday, then in the industry as a whole we saw something of a lull," the toy executive said. "And the whole world is expecting it to pick up this weekend heading into Christmas."
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CEO Storch expects it's going to be one of the biggest weekends in history for the retail industry — especially Saturday.
To ensure consumers have ample opportunity to shop, Toys R Us stores will be open nonstop from 6 am Friday right through 10 pm on Christmas Eve.
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Toys R Us was also pleased with the pick-up rate on layaway items this year, Storch said, as consumers returned after putting toys on layaway in September and October.
Stroch said tablets, Legos and Angry Birds were among the hot toys this year, and that the Furby will sell more units than any other toy.