NPD's Consumer Tracking Service has found that Toys "R" Us represented approximately 12% of United States toy industry sales in 2017.
Strategic Marks bought the KB Toys brand from Bain Capital in 2016. The bankrupt toy retailer has laid out plans to close all of its 735 stores after recording weak sales and failing to find a corporate buyer.
Ellia Kassoff, founder of Strategic Marks LLC announced on Linkedin that it had planned to reopen KB Toys but, with the closing of Toys R Us it has accelerated its business plan and hopes to have its stores up and running before Christmas. Kids are still playing with toys, Lennett said, and parents will look to other retailers to purchase them.
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Toys R Us stores in all these global markets are now open and serving customers. Toys "R" Us has reportedly weighed a plan to save 200 of its strongest stores, in addition to keeping its Canadian business open.
Northwest Austin has a Toys R Us and Babies R Us store at 9333 Research Blvd., Bldg.
According to USA Today, the company's distribution centers will permanently close their doors before Toys R Us officially does, which means the company will have tons of merchandise it needs to move as quickly as possible.
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Jobs for about 33,000 employees are in jeopardy, but Toys R Us is planning to hire for temporary positions for the liquidation process. In the USA, the toy industry has grown by 4.5% on average over the last three years.
In fact, data from NPD shows that the global toy industry in 2017 was the largest it has ever been.
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