Posted on 03/09/2018 11:44:55 AM PST by Morgana
Bankrupt retailer Toys "R" Us may shut all its US stores as soon as next week, according to several reports.
That's terrible news for the two biggest publicly traded toy companies. Investors are clearly preparing for the worst. Shares of Hasbro (HAS) fell 3.5% Friday morning while Mattel (MAT) plunged 7%.
Smaller toy company Jakks Pacific (JAKK) fell nearly 5% too. Canada's Spin Master, which owns the popular line of Hatchimals toys, was down about 3% as well on the Toronto Stock Exchange.
And everything isn't awesome for privately held European toy giant Lego either. The plastic bricks maker reported its first sales drop in thirteen years earlier this week. So these are clearly tough times for the toy makers.
(Excerpt) Read more at money.cnn.com ...
They did not have even a quarter of my list in stock and were uninterested in trying to get a hold of the rest of it.
This was almost a thousand dollar order and they just could not be bothered.
I went to Wal*Mart and they were not only willing to order what was not in stock, they saved me money as well.
Customer service.
They did not have it.
Private Equity firms destroy what they touch.
Ya, at least, it was after they pulled all the toys out and turned it into a kids clothes and baby furniture store 30ish years ago. It was once a warehouse stuffed with every toy that a kid could imagine. Would you continue to go to Hamburgers R Us if they only sold shoes? It had become like Monty Pythons cheese shop.
Legos are damn expensive, that’s part of their problem.
I had some dealings with Toys R Us back when I worked in the retail biz. IMO they are going extinct for the same reason all those other big box retailers have assumed room temperature:
Senior corporate management that is unbelievably effing arrogant.
Execs from this company were a real piece of work.
The one near me in Randall closed several years ago, along with everything else in that “changed” area. It’s now a great Asian market, Going tomorrow to stock up.
Interesting reflections. I agree that arrogance and pride ruin big stores.
Grants general merchandise had 1,200 stores from 1906 to 1976 and then caused the second biggest bankruptcy in US history in 1976. Problem: loans to customers with low credit and an inability to pay. Pride.
Legos will always sell. Dolls sales are down, since youngsters do not buy dolls or general antiques. Young people buy dinner has fancy restaurants with good lighting for Instagram.
This is an ongoing process from back in Sept. 2017 when with its bankruptcy
filing Toys R Us bought itself $3.1 billion in new financing that will allow
it to stock and operate all of its stores through the crucial holiday season. But
after the holidays are over, store closings are inevitable, bankruptcy experts say.
They probably get way more business.
Walked in one once about 25 years ago and spent 30 minutes or so walking the aisles before deciding to go the the Mall across the street to find something to buy...
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