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Struggling American toy retailer has a new announcement that it hopes will please their many existing fans as they look to the holiday season. The famous chain has has all sorts of well known problems over the years. Buyers had remained loyal to the company. At the same time, they also began to realize how much they could gain when it came to buying toys elsewhere. Retailers like Amazon and Target began to sell toys to the public in the same quantities that Toys “R” Us had been doing for many years.
Buyers took notice. They started to become aware of the toy selection at Amazon and Target. As a result of the wide selection and the even lower prices, many customers decided to switch to other retailing outlets in order to find the toys they wanted for their children. Now, the retailer is aiming to bring them back. They are poised to create yet another foray into the world of retail toys that the company hopes will draw in consumers and help them relaunch their brand to the public.
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New Jersey
The American Dream mall is one of the biggest malls in the country. Located a short distance from Manhattan, the mall has been in the planning stages for many years. It began opening for businesses in stages early in 2019. This process continues apace today with many new stores choosing to make it their home. This mall is part of a much larger Meadowlands Sports Complex located in the heart of East Rutherford, New Jersey. Each year, millions of people stop by the complex in order to shop and watch football games. Officials Toys “R” Us have announced they are going to open up a new store in the mall in December. They are hopeful that the store will attract customers who still hold the brand in high regard and remember exactly how much fun they had shopping there over the years.
This store is a full twenty thousand square feet. It occupies two stories in the mall. Officials in charge of the opening are of the belief that many viewers will stop by and see it as it opens this December and be reminded of the many happy times they’ve had in the past buying items there. The store is designed to sell toys. It is also designed with many fun aspects that are rarely seen in other toy stores. That includes an ice cream parlor where customers can sit back and watch other shoppers as they grab a scoop any time of the year. It also includes a slide that kids and adults alike can use to slide down each story and have fun with their kids as they shop.
Other Plans
While this new store will be only stand alone Toys “R” Us location in the United States, officials have big plans for expansion into other markets. They are making plans to pair up with another retailer to better serve the public. Macy’s and Toys “R” Us are a natural fit. That’s why store officials are going to open up an estimated four hundred outlets to sell toys at Macy’s across the country. This is scheduled to take place next year.
The toy chain also operates a website where customers can buy their favorite toys online. They also have a firm presence overseas. There are more than nine hundred Toys “R” Us stores operating across the world. This makes them one of the largest toy retailers in the world.
Operating revenue has been hurt in the past by the fact that many shoppers shifted their attention to companies like Wal Mart that offer toys at a lower markup. The rise of COVID-19 continued to accelerate such trends in the market for toys as well as the markets as a whole. Many shoppers choose to stay home and shop online rather than to enter a retail store. While many shoppers are vaccinated and restrictions have dropped in many parts of the country, retailers are still struggling to bring customers back to their stores.
Last Minute Traffic
The new store is too late to impact the company’s year end and quarterly earnings. At the same time, many shoppers put off their holiday shopping until the end of the season. The new store may be able to draw in those who need items for their kids but have not been able to find them online or in person before. The store is also expected to bring in more foot traffic to the entire mall. The property opened in October 2020. It has over three million square feet of retail space. There’s also an indoor water park and a covered theme park with over thirty rides including a roller coaster.
Tru Kids Inc.,
In 2018,Toys “R” Us famously went bankrupt. A large liquidation sale followed. Every single location in the United States was closed down. Thousands of employees were laid off. The new store is an example of the kind of intense revamping that officials hope will rekindle interest and lead to more shoppers.
Tru Kids Inc. bought out the store in the aftermath of the bankruptcy. It was later sold to current owner WHP in March 2021. Tru Kids had planned to open up smaller stores in varied parts of the United States. However, for many reasons this did not happen. They later opened up only two locations. One store was situated in New Jersey and the other in Texas. Both stores opened to the public in late 2019. Both stores closed a short time later. Company officials stated the closings were as a result of issues with COVID that struck the entire retailing industry in 2020. The new company is hopeful they can turn the brand around and once again make a profit.
