Toys R Us follows in the footsteps of F.A.O Schwarz and closes flagship Times Square store [tr]

UK Daily Mail ^ | December 31, 2015 | Chris Pleasance

[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.

[ladyjane]

Need I say it? The rent’s too damn high!

The market decides that.

[Daffynition]

They were trading in the wrong currency. TRU's neighbor may have something to say on the matter. I blame DT.

[a fool in paradise]

Over a decade ago I heard that the operating costs to the State for the Harrah’s casino in New Orleans was $2,000,000 a day. That’s a lot of money that people are walking in and losing without complaint.

[wardaddy]

That’s not cost of dirt and building

Its annual rent per foot which was originally 400/ft and now 2000/ft

Here in Nashville big box retail usually goes 16-35/ft depending demographics

That 100 stores rent per year in normal suburban markets

Insanity is they name

The only land use justifiable in Manhattan today if office and residential both class AAA or the equivalent of spinal tap 11

I guess these flagships make sense on some level

I know some Madison and fifth avenue retailers own their buildings

Cartier and Tiffany and Ralph Lauren and Bergdorfs

Great investments

When I lived in Manhattan Times Square was seedy or theatre based

Pretty ragged

I avoided it except one New Year’s Eve I went

[FreeReign]

NYC is dying again under Communist rule.

NYC may yet die under Commie DeBlasio, but since the rents are going up, this would be a sign of the opposite.

[riverdawg]

I heard on CNBC that Old Navy/Gap was going to move into that space. As others have mentioned, such flagship locations are often loss leaders that exist for advertising purposes or, like the former FAO Schwartz store, as showrooms for high-end items.