Given that Toys "R" Us represented about 12 percent of USA toy sales in 2017, "the worst-case scenario is the toy industry will decline by 12 percent", wrote NPD Group toy analyst Juli Lennett in a research note.
In the original announcement, Kassoff said they've analyzed why the original KB Toys failed, and have a plan to addresses those weaknesses in the current market. The company's acquisition of Whole Foods a year ago added 450 locations and it's also opening a small line of bookstores and expanding its line of cashless convenience stores.
The toy retailer, which went out of business in 2009, said via a statement on LinkedIn they have been working on several models to resurrect the "Great American Toy Store".
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The $59 million price tag was an 80 percent premium over what they paid in January 2015, property records in NY show. The developer then made renovations and hiked the rents for the refurbished apartments.
Toys "R" Us filed for bankruptcy late past year and announced it will be shutting all its USA stores down. But its Canadian unit is up for sale, along with its operations around the world.
Amazon is testing two-hour grocery delivery in Austin, Texas, as well as Cincinnati, Dallas and Virginia Beach, Va., for Amazon Prime members who make online orders. Al-Futtaim is a retailer for Toys "R" Us in six countries including Bahrain, Egypt, Kuwait, Oman, Qatar and the U.A.E. The division in the U.K.is now being wound down.
In January, the company announced that it would be closing around 180 stores in the United States, without about half of those being Babies "R" Us stores.
The Toy Association predicts the upcoming liquidation sales at Toys "R" Us stores will put a dent in other toy retailers, both large sellers and specialty stores, as well as toy manufacturers, until things normalize again during the 2018 holiday season. Now, one of its biggest rivals, a company blamed for its likely demise, may decide to swoop in as it doubles down on its own branded store locations.