What competing toy retailer did Toys R Us recently agree to buy?
Toys “R” Us Inc., the largest U.S. toy-store chain, acquired FAO Schwarz to take over the retailer’s flagship Fifth Avenue store in New York and increase its market share. Toys “R” Us plans to continue operating FAO Schwarz’s two retail stores in New York and Las Vegas under the same name, along with the company’s Web site and catalog businesses, Toys “R” Us said late yesterday in a statement. The retailer, based in Wayne, New Jersey, didn’t disclose a purchase price. The deal combines two closely held retailers that have faced increased competition from the Internet and discount chains during the recession. U.S. retail sales of toys generated $21.6 billion in 2008, a 3 percent drop from 2007, according to researcher NPD Group Inc. Mass merchant, discount and online retailers saw the most modest declines, NPD said, as consumers looked for ways to buy non-necessities at the lowest cost. “Financially, I think it’s brilliant,” Chris Byrne, a New York-based toy-industry analyst and directo
You would think that a toy shop would be one of the most parent (and child) friendly shops you could go into, wouldn’t you? Sadly, that’s not normally the case (although there are exceptions, ELC for example), and one of the worst of the offenders is ToysRUs, a huge, impersonal multi-national chain store. I’m not saying I never shop there, I actually do on a fairly regular basis, but it’s definitely not one of the most pleasurable shopping experiences, and now I’ll try to explain why….. —(Not So) Prime Location— The store I visit is in Basildon Town Centre, and has it’s own attached car park, I’m afraid I can’t tell you how many parking spaces there are, or even how much it costs (although there is a big banner saying from 20p), as I don’t own a car. But if there’s no available spaces in their car park there are plenty of other spaces around the town, the only time you would really have trouble finding a space is in the run up to Christmas. The actual store is quite a distance from
