Posted on 12/31/2015 6:43:49 AM PST by C19fan
For decades, excited children visiting New York begged their parents for a visit to a toy store unlike any other - complete with 60-foot indoor Ferris wheel, 20-foot animated T Rex and a life-size Barbie dollhouse.
For hundreds of thousands of youngsters, the Toys R Us store in Times Square, the brand's flagship property, held a special place in the imagination as a store where dreams really did become reality.
However, that dream sadly came to an end after 14 years yesterday as the store closed its doors to shoppers - following on the heels of fellow toy shop F.A.O Schwarz which featured in the Tom Hanks film Big and also shut down in July this year.
(Excerpt) Read more at dailymail.co.uk ...
A friend familiar with this operation described the misguided efforts there (along these lines): In a tourist mecca like Times Square, people just aren’t going to show up to buy tricycles and other large items that sell well in other areas.
The Obama administration marks the end of fun in the USA.
$2,000.00 per square foot equals somewhere between 5 and 20 new stores in the real world.
The place was a madhouse. You had to hang tight with the kiddies but sorry to see it go.
I like that! Thanks.
Which toy store in Manhattan had Superman lifting the elevator?
NYC is dying again under Communist rule.
$42million per year for the bottom floor alone
LOL...seriously.
I hope the building owner can find a tenant at those ridiculous prices...doubt it...
Even operating on the tiniest margin, it would be impossible for Toy's R US to make a profit with that just one fixed cost...
$2000 per square foot rent is why it closed. Never understood it anyway, as you stated I visited it with my kids when I visited Times Square, but we didn’t buy anything but some small souvenirs.
In Time Square you can find sidewalk chiropractors offering loose joints.
(Chinese) Toys R Us.
Need I say it? The rent’s too damn high!
Yep, it’s a loss leader. Wonder how much of all that they were able to write off as “advertising”.
Rent control only applies to residential renting, it seems. Odd that the socialists are ok with landlords squeezing more money out of business owners trying to meet monthly operating costs.
Billionaires in the muddled east can afford to rent that space for a new mosque.
Could you imagine tourists bundling any large item onto a train or bus to get back to their hotel?
I can imagine just based on the fixed cost of rent, they were losing millions a month...
Rent just for the first floor is an astounding $115,000 per DAY !!!
At some point those type of losses no longer compute in a long term business plan...
Obviously, a flagship store in the middle of Manhattan simply is not a great enough return in value anymore...
I'd bet their online far sales exceed the revenue this store generated...and that doesn't cost 115 K a day
That would be rich indeed...
The limousine libtards in the upper east side would be so confused on what to do, they probably drop their gucci bags...
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