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Toys "R" Us
Toys "R" Us is an American toy, clothing, and baby product retailer that was founded in April 1948 by Charles Lazarus in Washington, D.C.
The retailer initially began as Children's Supermart, selling furniture until it refocused itself as Toys "R" Us in June 1957. By the end of the 1970s, Toys "R" Us had opened locations across the United States, followed by another major growth in the 1980s to become one of the U.S.'s leading toy retailers. In the mid-1980s, it expanded internationally and established Canadian and British divisions.
In September 2017, Toys "R" Us filed for bankruptcy protection in the U.S. and Canada. In June 2018, Toys "R" Us closed its remaining 200 stores after entering bankruptcy, however certain international divisions outside of the United States continued.
In January 2019, the global (excluding Canada) Toys "R" Us intellectual property was transferred to Tru Kids, Inc. In August 2021, Tru Kids announced that Toys "R" Us would be opening over 400 stores within Macy's starting in 2022. A few new standalone stores would open, starting late in 2021. The flagship store is located in New Jersey at the American Dream shopping and entertainment complex. A second flagship store was opened inside the Mall of America in Bloomington, Minnesota, in November 2023.
In April 1948, Charles P. Lazarus founded a baby-furniture retailer, Children's Supermart, in Washington, D.C. during the postwar baby boom; the store's site at 2461 18th St NW later became Madam's Organ Blues Bar. The store was acquired in 1966 by Interstate Department Stores, Inc.
The focus of the store changed in June 1957, and the first Toys "R" Us, dedicated exclusively to toys rather than furniture, was opened by Lazarus in Rockville, Maryland. Lazarus also designed and stylized the Toys "R" Us logo, which featured a backwards "R" to give the impression that a child wrote it. The store chain grew successfully and built a brand which was recognizable to many children born from the 1960s to the 1990s, and it shared in the success of the birth of popular culture successes of action figures (Star Wars, G.I. Joe), dolls (Cabbage Patch Kids, Rainbow Brite), video games (Nintendo's Super Mario series and other co-developed names, original Sega Genesis stations and titles), and ultimately the co-branded FAO series, as the higher-end FAO Schwarz stores folded.
The board of directors installed John Eyler as CEO (formerly of FAO Schwarz) in May 2000. Eyler launched a plan to remodel and re-launch the chain. Blaming market pressures (primarily competition from Walmart and Target), Toys "R" Us considered splitting its toy and baby businesses. On March 17, 2005, a consortium of Bain Capital Partners LLC, Kohlberg Kravis Roberts (KKR) and Vornado Realty Trust announced a $6.6 billion leveraged buyout of the company. Public stock closed for the last time on July 21, 2005, at $26.75—a 63% increase since when it first announced that the company was put up for sale. Toys "R" Us became a privately owned entity after the buyout. The company still files with the Securities and Exchange Commission, as required by its debt agreements. Toys "R" Us announced plans for an IPO on May 28, 2010, but canceled them on March 29, 2013, citing market conditions.
In December 2013, eight days before Christmas, Toys "R" Us announced their stores in the United States would stay open for 87 hours straight. The flagship store of the retailer in Times Square was open for 24 hours a day from December 1 to 24, to cater to tourists. The announcement came after snow and rain caused a nearly 9 percent year-over-year decline in US store foot traffic. This move also pushed the retailer to hire an additional 45,000 seasonal workers to cater to the demand of the extended store hours. Since the toy business is highly seasonal, more than 40% of the company's sales come in during the last quarter of the year.
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Toys "R" Us
Toys "R" Us is an American toy, clothing, and baby product retailer that was founded in April 1948 by Charles Lazarus in Washington, D.C.
The retailer initially began as Children's Supermart, selling furniture until it refocused itself as Toys "R" Us in June 1957. By the end of the 1970s, Toys "R" Us had opened locations across the United States, followed by another major growth in the 1980s to become one of the U.S.'s leading toy retailers. In the mid-1980s, it expanded internationally and established Canadian and British divisions.
In September 2017, Toys "R" Us filed for bankruptcy protection in the U.S. and Canada. In June 2018, Toys "R" Us closed its remaining 200 stores after entering bankruptcy, however certain international divisions outside of the United States continued.
In January 2019, the global (excluding Canada) Toys "R" Us intellectual property was transferred to Tru Kids, Inc. In August 2021, Tru Kids announced that Toys "R" Us would be opening over 400 stores within Macy's starting in 2022. A few new standalone stores would open, starting late in 2021. The flagship store is located in New Jersey at the American Dream shopping and entertainment complex. A second flagship store was opened inside the Mall of America in Bloomington, Minnesota, in November 2023.
In April 1948, Charles P. Lazarus founded a baby-furniture retailer, Children's Supermart, in Washington, D.C. during the postwar baby boom; the store's site at 2461 18th St NW later became Madam's Organ Blues Bar. The store was acquired in 1966 by Interstate Department Stores, Inc.
The focus of the store changed in June 1957, and the first Toys "R" Us, dedicated exclusively to toys rather than furniture, was opened by Lazarus in Rockville, Maryland. Lazarus also designed and stylized the Toys "R" Us logo, which featured a backwards "R" to give the impression that a child wrote it. The store chain grew successfully and built a brand which was recognizable to many children born from the 1960s to the 1990s, and it shared in the success of the birth of popular culture successes of action figures (Star Wars, G.I. Joe), dolls (Cabbage Patch Kids, Rainbow Brite), video games (Nintendo's Super Mario series and other co-developed names, original Sega Genesis stations and titles), and ultimately the co-branded FAO series, as the higher-end FAO Schwarz stores folded.
The board of directors installed John Eyler as CEO (formerly of FAO Schwarz) in May 2000. Eyler launched a plan to remodel and re-launch the chain. Blaming market pressures (primarily competition from Walmart and Target), Toys "R" Us considered splitting its toy and baby businesses. On March 17, 2005, a consortium of Bain Capital Partners LLC, Kohlberg Kravis Roberts (KKR) and Vornado Realty Trust announced a $6.6 billion leveraged buyout of the company. Public stock closed for the last time on July 21, 2005, at $26.75—a 63% increase since when it first announced that the company was put up for sale. Toys "R" Us became a privately owned entity after the buyout. The company still files with the Securities and Exchange Commission, as required by its debt agreements. Toys "R" Us announced plans for an IPO on May 28, 2010, but canceled them on March 29, 2013, citing market conditions.
In December 2013, eight days before Christmas, Toys "R" Us announced their stores in the United States would stay open for 87 hours straight. The flagship store of the retailer in Times Square was open for 24 hours a day from December 1 to 24, to cater to tourists. The announcement came after snow and rain caused a nearly 9 percent year-over-year decline in US store foot traffic. This move also pushed the retailer to hire an additional 45,000 seasonal workers to cater to the demand of the extended store hours. Since the toy business is highly seasonal, more than 40% of the company's sales come in during the last quarter of the year.