400 new locations are returning within Macy’s department stores.
This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: BestLifeOnline.com, Forbes.com, en.Wikipedia.org, and BusinessInsider.com.
Following a substantial series of articles regarding business closings, it is heartening to report on the return of an old favorite.
Per BestLifeOnline.com’s April, 2022 piece, “This Iconic Store Is Relaunching With 400 New Locations by Year's End,” the comeback of the venerable chain came as welcome news to a beleaguered retail industry: According to Forbes, the chain will open over 400 new concessions in Macy's department stores across the U.S. Globally, Toys 'R' Us also plans to open 400 new locations by the end of 2022, going from 900 to 1,300 outlets.
The linked Forbes.com article, also from April, further states: According to Yehuda Shmidman, founder, chairman and CEO of WHP Global - the new parent company of Toys ‘R’ Us - the retailer has “a crystal clear mission: to bring the brand back to the consumers that loved it,” and he told delegates at World Retail Congress in Rome last week that this will be based around a fast-paced store roll-out in Asia, Europe and North America.
But those excerpts are from April, three months ago. Where does Toys R Us stand today?
Let us explore further.
Wikipedia features a comprehensive overview of the Toy R Us chain: Toys "R" Us is an American toy, clothing, and baby product retailer owned by Tru Kids, Inc. (doing business as Tru Kids Brands) and various others. The company was founded in 1957; its first store was built in April 1948, with its headquarters located in Parsippany-Troy Hills, New Jersey, in the New York metropolitan area… In August 2021, WHP Global announced that Toys "R" Us would be opening over 400 stores within Macy’s starting in 2022. The Flagship Store is located in New Jersey at the American Dream shopping and entertainment complex.
It should be noted the Macy’s chain is presently in the midst of financial challenges. See here for my recent article on the matter, “List of Macy‘s Location Closings in 2022.” The addition of Toys R Us is reportedly looked upon in the industry as a likely net positive.
For perspective’s sake, I am including a link and excerpt from an archived February, 2021 Business Insider piece, “Inside the Wild and Tumultuous History of Toys R Us, a Once Beloved Children's Brand That Just Closed its Last 2 Stores in the U.S.” The article was published when the company appeared to have permanently shuttered following the closure of its last two remaining locations.
As excerpted from the article: The beloved toy store seemingly rose from the dead in 2019 after it was purchased by Tru Kids Brands, which went on to open holiday pop-up shops and relaunched a website in the toy retailer's name. The revitalization efforts came after Toys R Us filed for chapter 11 bankruptcy in 2017 and — after failing to find a buyer to help refinance the company's mounting debt — ultimately shuttered and liquidated all 700-plus stores in an emotional farewell. Efforts to revitalize sales ultimately appear to have failed, as current pop-up stores don't actually generate any money for the brand — with toy manufacturers keeping all the profits — and the website only redirects users to make purchases on Amazon.
Today’s iteration will be in Macy’s stores alone, until further notice.
Time will tell if one of the world’s most popular toy chains will make a dedicated brick and mortar comeback.
For now, the 400 locations within Macy’s are largely perceived as promising.
Let us explore further.