Not surprised one bit.
https://www.bloomberg.com/news/articles/2017-09-18/toys-r-us-is-said-to-plan-bankruptcy-filing-as-soon-as-today (https://www.bloomberg.com/news/articles/2017-09-18/toys-r-us-is-said-to-plan-bankruptcy-filing-as-soon-as-today)
I went to the one here in Danville for Christmas shopping and it had less customers than Kmart (which I didn't think was possible). You could do donuts in the parking lot during broad daylight without hitting any parked cars....and this was in December!
Had a similar experience at Circuit City 2 days before xmas during their final days and the store was near empty. And this was back when EVERYONE was updating to HD. How the hell you go out of business selling TVs when everyone has to replace all their sets ??
LOL, I'm on my 4th HD set on the living room. Kept updating the main one and taking the old living room HDTVs and replaced other SD sets around the house. Most expensive HD TV I ever bought has an old Atari hooked up to it now.
:-D
In my whole life I don't think I ever set foot in a Toys R Us more than twice.
When I was a kid we had the much better Child World in New England, and that went bankrupt in the 90's. I think, down the road, the only toy stores that will survive are small mom and pop specialty places, with the bigger retailers left in the dust due to the internet.
Back in the 80's and into the 90's, it seems every mall had a KB Toys. Then they made the mistake of expanding to strip mall locations, which, along with Walmart's expansion, essentially killed the company. Now, the remnants of what was KB might soon be defunct, as Toys R Us bought up the remnants.
Surprising it didn't happen years ago. I've haven't one of with a full parking lot even on a Black Friday in about 20 years. I used to love to go to that place to get video games when you had to take the little cards up front to buy before you went to the booth at the front of the building.
The Toys-R-Us in Monroe, LA always seems to have a nice crowd everytime I have been there.
Quote from: jp the roadgeek on September 18, 2017, 11:59:49 PM
Back in the 80's and into the 90's, it seems every mall had a KB Toys. Then they made the mistake of expanding to strip mall locations, which, along with Walmart's expansion, essentially killed the company. Now, the remnants of what was KB might soon be defunct, as Toys R Us bought up the remnants.
The Wilson Mall (known as Parkwood Mall until 2005) in Wilson, NC had a KB Toys and I was practically glued to the place in the 90's/early 2000's when I was growing up in the area. Good times. Now the company and the mall are both dead.
Quote from: Max Rockatansky on September 19, 2017, 12:48:05 AM
Surprising it didn't happen years ago. I've haven't one of with a full parking lot even on a Black Friday in about 20 years. I used to love to go to that place to get video games when you had to take the little cards up front to buy before you went to the booth at the front of the building.
Yeah, I hate seeing it happen. I have a lot of good memories of Toys R Us as a kid. Damn near every brick and mortar that doesn't have a Walmart or Dollar General sign slapped on it is in deep shit it seems.
Quote from: LM117 on September 19, 2017, 08:06:00 AM
Quote from: Max Rockatansky on September 19, 2017, 12:48:05 AM
Surprising it didn't happen years ago. I've haven't one of with a full parking lot even on a Black Friday in about 20 years. I used to love to go to that place to get video games when you had to take the little cards up front to buy before you went to the booth at the front of the building.
Yeah, I hate seeing it happen. I have a lot of good memories of Toys R Us as a kid. Damn near every brick and mortar that doesn't have a Walmart or Dollar General sign slapped on it is in deep shit it seems.
While everyone shits on Walmart, they have learned how to adapt in today's retail age. Companies like Toys R Us haven't.
Now, filing for bankruptcy isn't the worst thing to happen to them - they can reorganize, shut some stores, and get back into the game if they know what they're doing. The biggest problem is these companies hate to get rid of the people in charge which caused them to be in the position their in the first place.
Quote from: jeffandnicole on September 19, 2017, 08:18:18 AM
Quote from: LM117 on September 19, 2017, 08:06:00 AM
Quote from: Max Rockatansky on September 19, 2017, 12:48:05 AM
Surprising it didn't happen years ago. I've haven't one of with a full parking lot even on a Black Friday in about 20 years. I used to love to go to that place to get video games when you had to take the little cards up front to buy before you went to the booth at the front of the building.
Yeah, I hate seeing it happen. I have a lot of good memories of Toys R Us as a kid. Damn near every brick and mortar that doesn't have a Walmart or Dollar General sign slapped on it is in deep shit it seems.
While everyone shits on Walmart, they have learned how to adapt in today's retail age. Companies like Toys R Us haven't.
Now, filing for bankruptcy isn't the worst thing to happen to them - they can reorganize, shut some stores, and get back into the game if they know what they're doing. The biggest problem is these companies hate to get rid of the people in charge which caused them to be in the position their in the first place.
Good point.
Quote from: LM117 on September 18, 2017, 08:49:53 PM
Not surprised one bit.
https://www.bloomberg.com/news/articles/2017-09-18/toys-r-us-is-said-to-plan-bankruptcy-filing-as-soon-as-today (https://www.bloomberg.com/news/articles/2017-09-18/toys-r-us-is-said-to-plan-bankruptcy-filing-as-soon-as-today)
I went to the one here in Danville for Christmas shopping and it had less customers than Kmart (which I didn't think was possible). You could do donuts in the parking lot during broad daylight without hitting any parked cars....and this was in December!
I'm amazed the "home of the goofy giraffe" has lasted as long as they have. Last time I went into one was about ten years ago. Even then, the store was almost completely empty. And it was clear that they had almost completely shifted to the lower quality "kid will break it within three days" merchandise.
Quote from: jp the roadgeek on September 18, 2017, 11:59:49 PM
Back in the 80's and into the 90's, it seems every mall had a KB Toys. Then they made the mistake of expanding to strip mall locations, which, along with Walmart's expansion, essentially killed the company. Now, the remnants of what was KB might soon be defunct, as Toys R Us bought up the remnants.
I used to frequent several KBs in the 1970s. What always struck me was how every item was tagged with a price, and then that price was always marked over with a lower price in red sharpie. Of course, that was better than the toys and hobbies section of the local Bradlees, where every item was marked in black magic marker with what appeared to be an internal inventory number.
They filed for Chapter 11 and the stores will remain open (for now anyway).
https://www.forbes.com/sites/laurengensler/2017/09/19/toys-r-us-bankruptcy/#6adfbd48574a (https://www.forbes.com/sites/laurengensler/2017/09/19/toys-r-us-bankruptcy/#6adfbd48574a)
QuoteToys 'R' Us, the children's toy store struggling from a massive amount of debt and fierce online competition, has filed for bankruptcy.
The retailer sought Chapter 11 bankruptcy protection late Monday evening in federal court, seeking a way out of the $5 billion in debt it has racked up. It said it would keep its 1,600 Toys 'R' Us and Babies 'R' Us stores open as normal heading into the busy holiday season.
Toys 'R' Us has been crippled by debt since it was acquired by private equity firms KKR and Bain Capital, plus real estate company Vornado Realty Trust, in a $6.6 billion leveraged buyout in 2005. It had started the process of going public in 2010, but ultimately pulled the filing, citing "unfavorable market conditions."
The company described the bankruptcy as a way to work with its creditors to get back on solid financial footing and invest in long-term growth in a difficult retail environment.
"Today marks the dawn of a new era at Toys"R"Us where we expect that the financial constraints that have held us back will be addressed in a lasting and effective way," said CEO Dave Brandon in a statement.
The company has received more than $3 billion in debtor-in-possession financing from J.P.Morgan Chase and other lenders, which will help it sustain operations during the bankruptcy process.
Toys 'R' Us, which began as a single store for baby carriages and cribs in Washington, D.C. in 1948, quickly became a favorite destination for children's toys. In recent years, the big-box retailer snatched up competitors like FAO Schwarz and KB Toys, pursued international expansion and slashed prices in an effort to continue attracting shoppers to its colorful aisles.
However, sales have slipped in the face of competition from giants like Amazon and Wal-Mart. In its latest quarter, same-store sales fell by 4.1%, helping the retailer to post losses of $164 million.
While Toys 'R' Us said the "vast majority" of its stores are profitable, it will likely be reevaluating at its physical footprint during the bankruptcy process.
Toys 'R' Us joins a parade of other retailers that have sought bankruptcy protection this year, including shoe store Payless and children's clothing retailer Gymboree. Many other retailers have aggressively closed stores and laid off employees, instead shifting resources to online capabilities.
Those over here are still trading normally and are unaffected by events in the US. I haven't been into a Toys 'Я' Us for decades. As a kid I did notice their prices were higher than competitors. This was a consideration in the days when limited amounts of pocket money were all I had.
Quote from: SectorZ on September 18, 2017, 10:18:29 PM
When I was a kid we had the much better Child World in New England, and that went bankrupt in the 90's. I think, down the road, the only toy stores that will survive are small mom and pop specialty places, with the bigger retailers left in the dust due to the internet.
I remember Child World. Although they survived until the 1990s, they started going downhill in the late 1970s and had far fewer stores than either Toys R Us or KB.
The only thing I ever bought from them is 2 lightsabres when Episode III came out. I have no idea why I went there rather than to another shop, given it was down the hill in Soton, when there were two other toystores less out of my way*. I've always had nearer, albeit smaller, toy stores to buy toys from in malls / shopping streets that I'd visit anyway rather than an out-of-town retail park site that I'd rarely visit.
*It might have been on the way to / from the cinema, which would have not been as out of the way as the cinema was down the hill anyway and we'd cross through the retail park between bus and cinema. Certainly my housemates were there, so probably was on such a cinema trip.
There's an associated retail outlet, "Babies 'R' Us" just down the street from my business; I went in there about six months ago to pick up something for my GF's goddaughter's kid -- and was surprised to see only 3-4 customers in the store on a Friday evening (usually one of the busier times of the week for retail) -- and there's certainly an intrinsically higher demand for baby items than toys for older children. If such an enterprise can't draw customers, then the "parent" store, featuring a selection of items better classified as "nonessential", has little chance of success or even survival. In this day & age, I'm just shocked this bankruptcy didn't happen a decade ago!
I loved this store 7- 8 years ago.
NPR had a story on this on Tuesday, which made it sound like the company would be doing okay if not for the stupid amounts of debt they had accumulated starting in the late 1990s. (The analyst they were interviewing pointed to their Times Square location, which operated at a loss, as one of several causes of the debt.) Now, they're making enough money to stay alive, just not enough to pay off their debt.
The story also noted that one thing working against them is that toy buying has shifted online much more than some other market segments, because it is much simpler to keep a toy gift secret from a kid if it arrives in the mail in an unmarked box than if the kid sees you go into Toys R Us.
The one near me closed about 5 years ago. I was surprised, it seemed crowded whenever I went in.
Thought this was topical:
Quote from: sparker on September 20, 2017, 05:47:24 AM
There's an associated retail outlet, "Babies 'R' Us" just down the street from my business; I went in there about six months ago to pick up something for my GF's goddaughter's kid -- and was surprised to see only 3-4 customers in the store on a Friday evening (usually one of the busier times of the week for retail) -- and there's certainly an intrinsically higher demand for baby items than toys for older children.
They're usually busier places on weekends, but I haven't had to go to one in 5 years.
On the other hand, Target and Walmart have bigger selections over the past decade, and it's a sector where the second-hand market seems to do alright (it also competes against a market where people willingly donate unused durable baby stuff). There's still some immediacy for baby/toddler items that online stores can't always compete with.
Quote from: Max Rockatansky on September 21, 2017, 09:09:16 PM
Thought this was topical:
Yes!! As a subscriber to the rising channel Company Man (the creator of that youtube video), I was planning to watch that very video that was just uploaded, but I haven't gotten the chance as of yet.
For those interested, this same person also has a very good video on the decline of Kmart (this channel is brand new, growing quickly, and has very interesting videos on companies and the sort, including the declines of some companies):
https://www.youtube.com/watch?v=1__Qg1toSSs&t=
For my two cents, I honestly did not see the bankruptcy of Toys 'Я' Us coming. I haven't been to one in roughly half a decade, so I really don't know what the stores even look like these days. I guess it's not too good, though, obviously. :-/
Whenever I would shop there with my parents as a kid I always seemed to like the place. The same goes for Kmart. As a matter of fact, my parents like shopping at either Kmart in my town, precisely because there's never hardly anyone there. As a 5 year old, I would've
never imagined that either retailer would fall to such bad fate.
https://locations.dollartree.com/ca/colma/
I remember Colma, CA had a Toys R US but that got replaced by a Dollar Tree in the area a few years ago. Also the Vallejo, CA location of Toys R US got taken over by Best Buy. Best Buy demolished the old Toys R US in Vallejo and put a Best Buy just 6 years ago. I'm saying that Toys R US has been in decline for some time though.
http://www.bbc.co.uk/news/business-42204182
Toys R Us is preparing to shut a quarter of its stores over here.
I wonder how many will blame Brexit. Given that the sort of people who do that are apathetic-at-best to the US, if not outright hostile (EU-nationalism stretching into EU-supremacy), they won't realise that it's a problem with the parent company too, due to a bad business plan to have big box stores out of town for toys - ie stuff for a demographic that can't drive, merely nag people to drive them.
Toys 'R' Us and Babies 'R' Us are expected to close up to 182 stores, with Store Closing sales starting in February. Some planned closures may be reversed if the company can secure better rents/leases from the property owners.
http://www.nj.com/news/index.ssf/2018/01/toys_r_us_to_close_up_to_182_stores_including_12_i.html#incart_river_home
The ones near me aren't on the list for New Jersey...not that I've been in either for at least a few years!
Shocking that Danville ain't on the list.
It's interesting, there's a Toys R Us cobranded as a Babies R Us near our house (I could walk there if I had any reason to go to a toy store) that has no indication of closing and isn't on the store closure list, but the property where it's located has a sign up about space for lease. The other store there is a La-Z-Boy that isn't expected to close any time soon. I wonder whether the landlord knows something that hasn't been publicized yet.
Last time I was in a Toys R Us was last month in Fort Myers looking for Christmas presents for our nephews and niece. Store was mobbed, but I guess that's to be expected in the days before Christmas. I noted both how cheaply made the toys seemed to be and how almost everything seemed to have some sort of movie or TV show tie-in. That is, obviously as a kid I had Star Wars toys, but we had a lot of things that were not related to movies or TV, especially stuff like Tonka trucks, and Lego wasn't all related to movies back then. Other than Nerf guns and such, there didn't seem to be a lot of non-movie stuff now. (We didn't find anything for our niece at Toys R Us, so later that day we stopped at an independent toy store in the area. Much nicer–higher-quality stuff, Brio trains, no movie tie-ins, no violent Halo-type video games–more like the kind of independent toy store my parents took me to when I was a kid, although we went to Toys R Us too for Intellivision cartridges.) It reminds me of how one of my teachers when I was a kid disapproved of movie-related toys because she felt they impaired your imagination by "letting someone else do your imagining for you." She would HATE today's versions of Lego.
Quote from: jeffandnicole on January 24, 2018, 08:29:17 AM
Toys 'R' Us and Babies 'R' Us are expected to close up to 182 stores, with Store Closing sales starting in February. Some planned closures may be reversed if the company can secure better rents/leases from the property owners.
Fort Smith (erroneously listed as Ft Smith, OK) and Little Rock are closing in Arkansas.
Sears is closing this week, K-Mart has been gone 10 years. Fort Smith is slowly dying.
4 are closing in Connecticut, including the one which is closest to me: the Berlin Turnpike (US 5/CT 15) in Newington. Then there's one in Manchester and two others.
Ton of New York stores on the list. Most of the remaining Babies R Us stores (including those in Albany and Buffalo), Kingston, Queensbury, several others.
Quote from: cl94 on January 24, 2018, 12:44:09 PM
Ton of New York stores on the list. Most of the remaining Babies R Us stores (including those in Albany and Buffalo), Kingston, Queensbury, several others.
Maybe the Babies R Us will grow up to be Toys R Us eventually ;)
Tennessee has two on list. One in Memphis and one in Nashville.
Quote from: US71 on January 24, 2018, 01:33:20 PM
Quote from: cl94 on January 24, 2018, 12:44:09 PM
Ton of New York stores on the list. Most of the remaining Babies R Us stores (including those in Albany and Buffalo), Kingston, Queensbury, several others.
Maybe the Babies R Us will grow up to be Toys R Us eventually ;)
:clap:
Full list (https://www.cnbc.com/2018/01/24/toys-r-us-to-close-180-stores-across-the-us.html)
Quote from: US71 on January 24, 2018, 12:08:48 PM
Fort Smith (erroneously listed as Ft Smith, OK) and Little Rock are closing in Arkansas.
Likewise, Williamsport PA is listed under New York. There's the problem – they didn't even know which state some of the stores were in.
Quote from: US71 on January 24, 2018, 01:33:20 PM
Quote from: cl94 on January 24, 2018, 12:44:09 PM
Ton of New York stores on the list. Most of the remaining Babies R Us stores (including those in Albany and Buffalo), Kingston, Queensbury, several others.
Maybe the Babies R Us will grow up to be Toys R Us eventually ;)
I always heard they didn't want to grow up.
Quote from: US71 on January 24, 2018, 12:08:48 PM
Quote from: jeffandnicole on January 24, 2018, 08:29:17 AM
Toys 'R' Us and Babies 'R' Us are expected to close up to 182 stores, with Store Closing sales starting in February. Some planned closures may be reversed if the company can secure better rents/leases from the property owners.
Fort Smith (erroneously listed as Ft Smith, OK) and Little Rock are closing in Arkansas.
Sears is closing this week, K-Mart has been gone 10 years. Fort Smith is slowly dying.
Maybe an error? West Fort Smith, OK (https://www.google.com/maps/place/West+Fort+Smith,+OK+74946/@35.3970336,-94.4574471,14z/data=!3m1!4b1!4m5!3m4!1s0x87ca4b800b03f967:0xd038ad522284b7e4!8m2!3d35.3970354!4d-94.4399375)
Quote from: TheArkansasRoadgeek on January 24, 2018, 03:03:54 PM
Quote from: US71 on January 24, 2018, 12:08:48 PM
Quote from: jeffandnicole on January 24, 2018, 08:29:17 AM
Toys 'R' Us and Babies 'R' Us are expected to close up to 182 stores, with Store Closing sales starting in February. Some planned closures may be reversed if the company can secure better rents/leases from the property owners.
Fort Smith (erroneously listed as Ft Smith, OK) and Little Rock are closing in Arkansas.
Sears is closing this week, K-Mart has been gone 10 years. Fort Smith is slowly dying.
Maybe an error? West Fort Smith, OK (https://www.google.com/maps/place/West+Fort+Smith,+OK+74946/@35.3970336,-94.4574471,14z/data=!3m1!4b1!4m5!3m4!1s0x87ca4b800b03f967:0xd038ad522284b7e4!8m2!3d35.3970354!4d-94.4399375)
There's no Toys R Us there. Just a stockyard. https://goo.gl/maps/Ae1Ls3kiBZo
Two of them closing in Oklahoma: 1119 SE 66th St., Oklahoma City and 560 Ed Noble Pkwy., Norman. Both closures make sense–the OKC location is located near the now completely closed and dead Crossroads Mall (which went through a brief period of being open under the name Plaza Mayor), and the Norman location is on Ed Noble Parkway, which...yeah, it's Ed Noble Parkway, pretty much everything there is closed now.
The Toys R' Us store nearest my home and the one nearest my office are both closing up. Outside of just before Christmas, I've rarely seen anyone in either of the locations. Given their business model (year-round sales of largely seasonal items -- maybe they've been counting on the birthday-gift business), the closures are hardly surprising. Except for strictly hobbyist items and patented video games, most merchandise they sell could be readily described as fungibles -- easy pickings for Amazon and the like.
I see that the one on Golf Rd in Schaumburg IL is due to be closed. Sad. I spent so much time in there as a child. That's where I first got my hands on a demo Mattel Football II and was able to pester my parents so much that I got one for Christmas that year.
Toys 'R' Us is pulling out of Ann Arbor completely, closing both the Toys 'R' Us and Babies 'R' Us locations. However, both are on the bad side of town (which isn't bad compared to the bad side of most other cities) and/or have bad interstate access. I'd imagine if one of those were by Briarwood Mall, it would be staying open. For comparison, the Jackson Toys 'R' Us is staying open, despite Jackson being less than half the size of Ann Arbor.
Babies 'R' Us is pulling out of Grand Rapids and Lansing (Toys 'R' Us stores in both areas remain open), while a store in smaller Kalamazoo remains open.
Toys 'R' Us is also pulling out of Muskegon and Traverse City.
Quote from: KEVIN_224 on January 24, 2018, 12:40:29 PM
(4) 2 are closing in Connecticut, including the one which is closest to me: the Berlin Turnpike (US 5/CT 15) in Newington. Then there's one in Manchester and two others North Haven.
Looks like Manchester and Waterbury have survived the chopping block. The Newington one always looks dead. One time when I went to Stew Leonard's, I saw notes on the door, and had to look to see if it was announcing a store closing. It's close to the one in Corbin's Corner in West Hartford, which is the one I always went to as a kid. North Haven is on Universal Drive. It's a relatively new store that replaced the Hamden location about 10-15 years ago, but like Newington, it is not near an indoor mall.
Walking past it today...TOYS WERE US in Newington is open for now. Amazed how it hasn't done that well despite being along the busy Berlin Turnpike (US 5/CT 15). It's across the way from the Eversource electric headquarters.
http://www.hartfordbusiness.com/article/20180202/NEWS01/180209987
It now looks like two of the 4 Connecticut closures may come off that grand list. The Newington location is still closing.
Just saw that Toys 'R' Us could be closing ANOTHER 200 stores: http://fortune.com/2018/02/22/toys-r-us-may-close-more-stores/
Looks like they could go belly up before Sears!
Toys R Us UK could be in administration by next weekend: http://metro.co.uk/2018/02/24/toys-r-us-brink-collapse-3200-jobs-risk-7338711/
Quote from: ftballfan on February 23, 2018, 11:27:13 PM
Looks like they could go belly up before Sears!
Yes, as the US operation appears to be entering its final death spiral.
http://www.latimes.com/business/la-fi-toys-r-us-liquidation-20180308-story.html (http://www.latimes.com/business/la-fi-toys-r-us-liquidation-20180308-story.html)
QuoteToys R Us Inc. is making preparations for a liquidation of its bankrupt U.S. operations after so far failing to find a buyer or reach a debt restructuring deal with lenders, according to people familiar with the matter.
While the situation is still fluid, a shutdown of the U.S. division has become increasingly likely in recent days...
Toys R Us's U.K. unit put itself in the hands of a court administrator after discussions about selling the business fell apart. Its European arm is seeking takeover bids.
Talks are being held to offload the growing Asian business, the company's most profitable arm. It's not yet clear what will happen to the Canadian unit, which filed at the same time as the U.S. division.
Knowing all this, we used up our remaining gift cards at the Huntsville location last week.
With the exception of the video game section, their shelves were quite full. But there didn't seem to be any amazing deals to wipe out existing inventory.
Our location has plenty of inventory, but no customers. I'm not too familiar with the retail history in Danville since I've only been living here 7 years (7 years too long but that's a different story), but the building looks like it hasn't been updated in at least 20 years.
The Babies R Us closest to us is closing. Not surprised as I never saw it terribly busy, but we found the staff to be much nicer and more helpful than the Buy Buy Baby a mile away. Our little one has grown out of needing either store, and we now visit our local independent toyseller or shop online.
"I don't wanna go bust, I'm a Toys-R-Us kid..."
(https://s3.amazonaws.com/rapgenius/The%20End%20is%20Near.gif)
http://wtnh.com/2018/03/09/toys-r-us-could-go-out-of-business-next-week/
My local Toys R Us is advertising "At least 50 percent off "everything, but most items are 20-30 percent off, except Legos which are still full price.
This is what happens when a business is bought by an investment firm that sets its sights on "maximizing leverage" and "value-added synergy" but has absolutely no idea how to actually run the business.
Quote from: wanderer2575 on March 10, 2018, 10:19:24 AM
This is what happens when a business is bought by an investment firm that sets its sights on "maximizing leverage" and "value-added synergy" but has absolutely no idea how to actually run the business.
Private Equity firms are more about squeezing all the money out a company, then selling the empty husk.
Quote from: US71 on March 10, 2018, 10:03:19 AM
My local Toys R Us is advertising "At least 50 percent off "everything, but most items are 20-30 percent off, except Legos which are still full price.
Naturally, the one thing I was was interested in. Oh, and my son.
Quote from: formulanone on March 10, 2018, 05:01:09 PM
Quote from: US71 on March 10, 2018, 10:03:19 AM
My local Toys R Us is advertising "At least 50 percent off "everything, but most items are 20-30 percent off, except Legos which are still full price.
Naturally, the one thing I was was interested in. Oh, and my son.
Yes, likewise. Although I don't know that there's a Toys-R-Us anywhere near me anymore.
Quote from: US71 on March 10, 2018, 01:48:11 PM
Quote from: wanderer2575 on March 10, 2018, 10:19:24 AM
This is what happens when a business is bought by an investment firm that sets its sights on "maximizing leverage" and "value-added synergy" but has absolutely no idea how to actually run the business.
Private Equity firms are more about squeezing all the money out a company, then selling the empty husk.
Planned liquidation is a perfectly acceptable strategy to protect shareholder wealth, particularly if the future looks bleak for the company or industry.
Quote from: AlexandriaVA on March 10, 2018, 09:53:53 PM
Quote from: US71 on March 10, 2018, 01:48:11 PM
Quote from: wanderer2575 on March 10, 2018, 10:19:24 AM
This is what happens when a business is bought by an investment firm that sets its sights on "maximizing leverage" and "value-added synergy" but has absolutely no idea how to actually run the business.
Private Equity firms are more about squeezing all the money out a company, then selling the empty husk.
Planned liquidation is a perfectly acceptable strategy to protect shareholder wealth, particularly if the future looks bleak for the company or industry.
I didn't know private equity firms had shareholders.?
Good catch, didn't see that, but same principle. Liquidate, get out of the market, let someone else bear the loss.
Quote from: US71 on March 10, 2018, 09:56:48 PM
Quote from: AlexandriaVA on March 10, 2018, 09:53:53 PM
Quote from: US71 on March 10, 2018, 01:48:11 PM
Quote from: wanderer2575 on March 10, 2018, 10:19:24 AM
This is what happens when a business is bought by an investment firm that sets its sights on "maximizing leverage" and "value-added synergy" but has absolutely no idea how to actually run the business.
Private Equity firms are more about squeezing all the money out a company, then selling the empty husk.
Planned liquidation is a perfectly acceptable strategy to protect shareholder wealth, particularly if the future looks bleak for the company or industry.
I didn't know private equity firms had shareholders.?
The thing they have in common is the pathological focus on quarterly profits rather than long-term growth.
Quote from: Scott5114 on March 11, 2018, 02:44:08 PM
The thing they have in common is the pathological focus on quarterly profits rather than long-term growth.
That sums up Wall Street in general.
Too much emphasis on long-term growth can lead to forgone opportunities or allow competitors to cut into the market. There's simply no perfect solution...some firms get it right, others don't. In retail, like with Toys-R-Us, the long-term strategy is probably getting out of the market unless you are Amazon, Target, or Wal-Mart. The point is that liquidations, even self-imposed, are a natural part of the business cycle. Preservation for preservation's sake can be a very misguided philosophy.
Quote from: Scott5114 on March 11, 2018, 02:44:08 PM
The thing they have in common is the pathological focus on quarterly profits rather than long-term growth.
"The speed of technological advancement isn't nearly as important as short term quarterly gains." - Quark, Deep Space 9 'Little Green Men'
In my area, most TRUs that are left are in buildings that are at least 25 years old if not 35. Standalones that old around here tend to be in areas that have been supplanted by newer developments further from the core. Had they moved at the same time as other retailers they would have had a better chance of making it I feel.
Looks like Stein Marts may be next.
I think we had plenty of warning with Stein Mart. Three of the showcase fixtures in one of my stores are from a Stein Mart in Cincinnati that closed over 10 years ago. So I have store fixtures from Blockbuster and Stein Mart there and the space itself is an old Kay-Bee. The other showcases in it look Suncoast-y but I can't verify that.
Quote from: GCrites80s on March 11, 2018, 09:44:51 PM
I think we had plenty of warning with Stein Mart. Three of the showcase fixtures in one of my stores are from a Stein Mart in Cincinnati that closed over 10 years ago. So I have store fixtures from Blockbuster and Stein Mart there and the space itself is an old Kay-Bee. The other showcases in it look Suncoast-y but I can't verify that.
Do you sell old store fixtures?
Quote from: GCrites80s on March 11, 2018, 09:03:52 PM
In my area, most TRUs that are left are in buildings that are at least 25 years old if not 35. Standalones that old around here tend to be in areas that have been supplanted by newer developments further from the core. Had they moved at the same time as other retailers they would have had a better chance of making it I feel.
That's generally the case in the northeast, too. With a few exceptions, most of them are OLD and in bad locations (either far from other major shopping or hard to access).
Quote from: US71 on March 11, 2018, 09:10:59 PM
Looks like Stein Marts may be next.
Quote from: GCrites80s on March 11, 2018, 09:44:51 PM
I think we had plenty of warning with Stein Mart. Three of the showcase fixtures in one of my stores are from a Stein Mart in Cincinnati that closed over 10 years ago. So I have store fixtures from Blockbuster and Stein Mart there and the space itself is an old Kay-Bee. The other showcases in it look Suncoast-y but I can't verify that.
Agree that we had quite a bit of warning. They've been slowly closing for a while.
Brick-and-mortar retail is a complete bear trap right now. Very few companies thriving out there right now, and most of those are working on inertia like Walmart. (Kinda sounds like newspapers when you think of it.)
Quote from: GCrites80s on March 11, 2018, 09:03:52 PM
In my area, most TRUs that are left are in buildings that are at least 25 years old if not 35. Standalones that old around here tend to be in areas that have been supplanted by newer developments further from the core. Had they moved at the same time as other retailers they would have had a better chance of making it I feel.
I've also noticed that a bunch of Toys R Us stores are located near shopping malls. So when the malls went bust...
Quote from: Road Hog on March 12, 2018, 02:32:08 AM
Brick-and-mortar retail is a complete bear trap right now. Very few companies thriving out there right now, and most of those are working on inertia like Walmart. (Kinda sounds like newspapers when you think of it.)
It's not like Amazon makes money from its retail operations.
https://www.forbes.com/sites/jonmarkman/2017/05/23/the-amazon-era-no-profits-no-problem/#138e9468437a
Quote from: US71 on March 11, 2018, 09:50:13 PM
Quote from: GCrites80s on March 11, 2018, 09:44:51 PM
I think we had plenty of warning with Stein Mart. Three of the showcase fixtures in one of my stores are from a Stein Mart in Cincinnati that closed over 10 years ago. So I have store fixtures from Blockbuster and Stein Mart there and the space itself is an old Kay-Bee. The other showcases in it look Suncoast-y but I can't verify that.
Do you sell old store fixtures?
No, I have game stores. I don't have any unneeded fixtures right now. Columbus is definitely the hub of store fixtures stores/warehouses in Ohio though.
Quote from: GCrites80s on March 12, 2018, 10:46:26 AM
Quote from: US71 on March 11, 2018, 09:50:13 PM
Quote from: GCrites80s on March 11, 2018, 09:44:51 PM
I think we had plenty of warning with Stein Mart. Three of the showcase fixtures in one of my stores are from a Stein Mart in Cincinnati that closed over 10 years ago. So I have store fixtures from Blockbuster and Stein Mart there and the space itself is an old Kay-Bee. The other showcases in it look Suncoast-y but I can't verify that.
Do you sell old store fixtures?
No, I have game stores. I don't have any unneeded fixtures right now. Columbus is definitely the hub of store fixtures stores/warehouses in Ohio though.
Just curious since you mentioned old store fixtures. :)
Quote from: US71 on March 10, 2018, 10:03:19 AM
My local Toys R Us is advertising "At least 50 percent off "everything, but most items are 20-30 percent off, except Legos which are still full price.
That was the case with our local Babies R Us that's closing. I didn't see a single thing that was more than 30% off, and they wouldn't further discount floor models.
We might have been able to save a bundle of money by stockpiling discounted diapers, but those were also full price.
Liquidation sales are notorious for discounting raised prices.
The early store-closing sales are rarely good deals. Yet, people flock to them.
Quote from: jeffandnicole on March 12, 2018, 01:28:56 PM
The early store-closing sales are rarely good deals. Yet, people flock to them.
Yeah, but do you really think the desirable stuff is going to be 50-90% off? YMMV.
Quote from: formulanone on March 12, 2018, 06:16:54 PM
Quote from: jeffandnicole on March 12, 2018, 01:28:56 PM
The early store-closing sales are rarely good deals. Yet, people flock to them.
Yeah, but do you really think the desirable stuff is going to be 50-90% off? YMMV.
That's what you take the chance on. If retail is $10, 10% is $9, but Amazon/Wal-Mart sells is for $7, you take the chance you can grab it at the 30% off mark or better. If it's not there then, you still didn't lose anything.
Quote from: formulanone on March 12, 2018, 06:16:54 PM
Quote from: jeffandnicole on March 12, 2018, 01:28:56 PM
The early store-closing sales are rarely good deals. Yet, people flock to them.
Yeah, but do you really think the desirable stuff is going to be 50-90% off? YMMV.
It will be gone early. When they truly get to 50 percent storewide, the premium stuff is gone (even after it's been marked up). 90 percent, you get the dregs no one wants or someone missed.
Quote from: roadman on September 19, 2017, 03:12:58 PM
Quote from: SectorZ on September 18, 2017, 10:18:29 PM
When I was a kid we had the much better Child World in New England, and that went bankrupt in the 90's. I think, down the road, the only toy stores that will survive are small mom and pop specialty places, with the bigger retailers left in the dust due to the internet.
I remember Child World. Although they survived until the 1990s, they started going downhill in the late 1970s and had far fewer stores than either Toys R Us or KB.
We didn't have Child World but we had Children's Palace, which I think was the same thing. They didn't have nearly as good of a video game selection as Toys R Us.
iPad
Quote from: gilpdawg on March 12, 2018, 08:07:07 PM
Quote from: roadman on September 19, 2017, 03:12:58 PM
Quote from: SectorZ on September 18, 2017, 10:18:29 PM
When I was a kid we had the much better Child World in New England, and that went bankrupt in the 90's. I think, down the road, the only toy stores that will survive are small mom and pop specialty places, with the bigger retailers left in the dust due to the internet.
I remember Child World. Although they survived until the 1990s, they started going downhill in the late 1970s and had far fewer stores than either Toys R Us or KB.
We didn't have Child World but we had Children's Palace, which I think was the same thing. They didn't have nearly as good of a video game selection as Toys R Us.
iPad
Don't remember seeing a Child World in CT after the early 80's. We had KB in every mall, and even a few non-mall locations (most often called Toy Works in its early days). We still have a great local toy store with 2 locations in Amato's Toy and Hobby
http://amatostoyandhobby.com/
Quote from: gilpdawg on March 12, 2018, 08:07:07 PM
Quote from: roadman on September 19, 2017, 03:12:58 PM
Quote from: SectorZ on September 18, 2017, 10:18:29 PM
When I was a kid we had the much better Child World in New England, and that went bankrupt in the 90's. I think, down the road, the only toy stores that will survive are small mom and pop specialty places, with the bigger retailers left in the dust due to the internet.
I remember Child World. Although they survived until the 1990s, they started going downhill in the late 1970s and had far fewer stores than either Toys R Us or KB.
We didn't have Child World but we had Children's Palace, which I think was the same thing. They didn't have nearly as good of a video game selection as Toys R Us.
iPad
Had Children's Palace around here as well. IIRC, the Milwaukee area had at least three of them. The closest one to me was a couple doors down from a Toys R Us. Toys R Us usually was the more expensive store with a smaller selection, but still worth stopping just to browse. The eventual demise of that store was one of the low-points of my childhood. :-(
Welp...
https://www.cnbc.com/2018/03/13/toys-r-us-is-preparing-to-file-its-liquidation-plan-with-the-court.html
Quote from: CNBC
Toys R Us prepares to file liquidation plan with the court
- Toys R Us is in the process of drafting the court motion for its liquidation plan, a source familiar with the situation told CNBC.
- Toys R Us missed a payment to some of its vendors this week, these sources said.
Toys R Us, the iconic U.S. retailer, is in the process of drafting the court motion for its liquidation plan, a source familiar with the situation told CNBC on Tuesday.
The retailer could file as soon as the end of Wednesday, making the motion official. This step begins the wind down of the storied toy retailer, after more than half a century in business.
The retailer this week missed a payment to some of its vendors, two people familiar with the situation said.
The retailer has not been responsive to calls from its vendors, they added. Bloomberg first reported the missed payment.
Toys R Us declined to comment.
The retailer was battered by dismal holiday season, in which sales, traffic and profit all fell far short of what it had told lenders to expect. Poor holiday performance, as well as a group of lenders that have been pushing for liquidation, have challenged the retailer's ability to emerge from bankruptcy.
The retailer filed for bankruptcy protection in September with $4.9 billion in debt.
Shares of toymaker Mattel closed down about 3.5 percent, while rival Hasbro shares were shed about 1 percent.
Grab your discounted nerf guns while they last :D
Quote from: ET21 on March 14, 2018, 08:28:19 AM
Grab your discounted nerf guns while they last :D
IF they are discounted. A lot of stuff was "not on sale" when I visited last week. That may change once the whole company goes belly-up.
Quote from: US71 on March 14, 2018, 12:02:13 PM
Quote from: ET21 on March 14, 2018, 08:28:19 AM
Grab your discounted nerf guns while they last :D
IF they are discounted. A lot of stuff was "not on sale" when I visited last week. That may change once the whole company goes belly-up.
Which it wouldn't be, as they're not in the process of closing the stores.
Quote from: jeffandnicole on March 14, 2018, 12:09:03 PM
Quote from: US71 on March 14, 2018, 12:02:13 PM
Quote from: ET21 on March 14, 2018, 08:28:19 AM
Grab your discounted nerf guns while they last :D
IF they are discounted. A lot of stuff was "not on sale" when I visited last week. That may change once the whole company goes belly-up.
Which it wouldn't be, as they're not in the process of closing the stores.
My store IS closing, but a lot of stuff wasn't marked down. Lots of signs saying "This item is not part of the sale".
All stores in the UK are closing.
https://www.bbc.com/news/amp/business-43401674 (https://www.bbc.com/news/amp/business-43401674)
Quote from: US71 on March 14, 2018, 01:21:24 PM
Quote from: jeffandnicole on March 14, 2018, 12:09:03 PM
Quote from: US71 on March 14, 2018, 12:02:13 PM
Quote from: ET21 on March 14, 2018, 08:28:19 AM
Grab your discounted nerf guns while they last :D
IF they are discounted. A lot of stuff was "not on sale" when I visited last week. That may change once the whole company goes belly-up.
Which it wouldn't be, as they're not in the process of closing the stores.
My store IS closing, but a lot of stuff wasn't marked down. Lots of signs saying "This item is not part of the sale".
I'm guessing that stuff may be moved to another store then...although if they shut them all down, then that'll be a moot point.
Toys "˜R' Us didn't have a presence in my hometown for most of my childhood, so I don't have any sense of nostalgia for the chain.
I did, however, visit my closest Toys "˜R' Us last weekend in hopes of using up a merchandise credit that I had left over from a baby present for my daughter that I returned over a year ago. As of last Saturday, the store was fully stocked and fairly busy; everything seemed to be "business as normal" .
It's been hard to use up the merchandise credit because pricing on nearly everything we've looked at is considerably higher than any other retailer. And not just by a trivial margin: My daughter's in need of a new toddler-aged car seat, and Toys "˜R' Us's price are basically the same as MSRP (let's say $300) while nearly all other retailers are selling the same seat for a little over $200. I'd be willing to overspend that much with a local merchant who's a member of the community. But for a national "category killer" that adds no value to the transaction, no.
I ended up blowing most of the balance on mundane toddler supplies–and will probably do the same with what's left.
Quote from: gilpdawg on March 12, 2018, 08:07:07 PM
Quote from: roadman on September 19, 2017, 03:12:58 PM
Quote from: SectorZ on September 18, 2017, 10:18:29 PM
When I was a kid we had the much better Child World in New England, and that went bankrupt in the 90's. I think, down the road, the only toy stores that will survive are small mom and pop specialty places, with the bigger retailers left in the dust due to the internet.
I remember Child World. Although they survived until the 1990s, they started going downhill in the late 1970s and had far fewer stores than either Toys R Us or KB.
We didn’t have Child World but we had Children’s Palace, which I think was the same thing. They didn’t have nearly as good of a video game selection as Toys R Us.
iPad
Child World/Children's Palace was already on the decline when video games started to take off - which is why they didn't invest too heavily in selling them.
Toys R Us announced today that all the stores are closing.
https://www.washingtonpost.com/news/business/wp/2018/03/14/toys-r-us-to-close-all-800-of-its-u-s-stores/?utm_term=.4b6ebab30a19
by Abha Bhattarai March 14 at 6:05 PM
Toy store chain Toys R Us is planning to sell or close all 800 of its U.S. stores, affecting as many as 33,000 jobs as the company winds down its operations after six decades, according to a source familiar with the matter.
The news comes six months after the retailer filed for bankruptcy. The company has struggled to pay down nearly $8 billion in debt – much of it dating back to a 2005 leveraged buyout – and has had trouble finding a buyer. There were reports earlier this week that Toys R Us had stopped paying its suppliers, which include the country's largest toy makers. On Wednesday, the company announced it would close all 100 of its U.K. stores. In the United States, the company told employees closures would likely occur over time, and not all at once, according to the source, who spoke on the condition of anonymity because they were not authorized to discuss internal deliberations.
(story continues; read it online...)
Apparently the intent is that the store closings and inventory liquidation sales will be staggered throughout the remainder of 2018. With a 4.1% unemployment rate I'd think it would be difficult to maintain adequate staffing under these circumstances.
Quote from: gonealookin on March 14, 2018, 07:12:34 PM
Apparently the intent is that the store closings and inventory liquidation sales will be staggered throughout the remainder of 2018. With a 4.1% unemployment rate I'd think it would be difficult to maintain adequate staffing under these circumstances.
Temps.
Game over (http://www.chicagotribune.com/business/ct-biz-toys-r-us-ripple-effect-20180315-story.html).
And...
http://money.cnn.com/2018/03/15/news/companies/toys-r-us-closing-blame/index.html
https://www.fool.com/investing/2018/03/15/dont-blame-walmart-amazon-for-toys-r-us-demise.aspx
https://www.bloomberg.com/gadfly/articles/2018-03-15/toys-r-us-store-closings-a-how-not-to-guide-for-retail
Frankly, I'm surprised they lasted as long as they did. Of all the brick-and-mortar stores to be threatened by online shopping, toy stores seemed one of the most vulnerable.
Quote from: abefroman329 on March 15, 2018, 09:56:08 AM
Frankly, I'm surprised they lasted as long as they did. Of all the brick-and-mortar stores to be threatened by online shopping, toy stores seemed one of the most vulnerable.
IMHO, online shopping is a bit overrated (Amazon surprisingly doesn't make much of a profit - exactly the kind of business model that led to the dot com bust in 2000-2001). The prices aren't really much better (I've found better prices at Walmart than Amazon). It's the massive debt load that did them in (read the articles I linked).
Yes, the prices are only better on Amazon if you ignore the shipping cost or pretend that Prime membership isn't costing anything and doesn't change your shopping habits.
Saying that online shopping killed Toys R Us is the equivalent of saying a hot day today is due to global warming. The thinking is short-sighted and reflects the current moment; not the past history leading up to today.
It's been reported for years that Toys R Us was in trouble. The Bankruptcy has been ongoing for a long period of time. They disbanded the entire Kids R Us clothing stores. As mentioned, they didn't update their stores. When retailers like Walmart and Target consistently discounted their toys and put them on sale, Toys R Us kept their pricing high, as if walking in a Toys R Us was a luxury shopping experience and you will pay for that experience.
They closed their flagship Times Square store a few years ago. It was a very popular store, but clearly was a sign of its future demise.
They also had a terrible return policy: No receipt = too bad, you own it.
Nearly every retailer allows for store credit, at a minimum.
Quote from: abefroman329 on March 15, 2018, 09:56:08 AMFrankly, I'm surprised they lasted as long as they did. Of all the brick-and-mortar stores to be threatened by online shopping, toy stores seemed one of the most vulnerable.
Their problem wasn't brick-and-mortar, their problem was big out-of-town stores that you had to travel to by car when your market can't drive.
While Amazon definitely did play a big part in killing the mega book store in the form of Borders*, etc, what we Brits call 'High Street' book stores are still happily chugging along here. In the UK, Toys 'R' Us stores were in similar places to where Borders were: retail parks where most of the other units are furniture, carpets, DIY, or garden and thus aren't frequent trips and so you have these vast warehouses with few people in there. Book stores and toy stores in high-traffic retail areas: local High Streets and malls, are doing fine.
Add in jeffandnicole's point about the large supermarkets like Walmart and Target entered the book and toy market and are places you'd visit weekly or more often to get groceries (on top of selling them cheaper) and so have passing trade.
*Which was always it's plan - sell books as a shop window - deliberately making them cheap and under-cutting physical-store competition to generate demand for the fledgling industry of online retail - while the real product was web services, including doing online retail for others.
It wasn't just the online retailers, or even mainly. Toys R Us had way too much debt. From the Washington Post:
QuoteBut the company's biggest albatross was that it struggled with massive debt since private-equity firms Bain Capital, KKR & Co. and Vornado Realty Trust took it private in a $6.6 billion leveraged buyout in 2005. Weak sales prevented them from taking the company public again. With such debt levels, Toys R Us did not have the financial flexibility to invest in its business. The company closed its flagship store in Manhattan's Times Square, a huge tourist destination that featured its own Ferris wheel, about two years ago.
Shame, I've somewhat frequented Babies R Us since my son was born. A bit higher priced but usually can find sale prices + coupons + trade-in events that made up for it, and they were conveniently close for me at least. They also had some good baby classes/events that we took advantage of. Never went to the place when I was a kid though.
Quote from: english si on March 15, 2018, 02:45:26 PM
Quote from: abefroman329 on March 15, 2018, 09:56:08 AMFrankly, I'm surprised they lasted as long as they did. Of all the brick-and-mortar stores to be threatened by online shopping, toy stores seemed one of the most vulnerable.
Their problem wasn't brick-and-mortar, their problem was big out-of-town stores that you had to travel to by car when your market can't drive.
Their market could drive, though - it's parents, not kids. The problem is that you've got to make your stores pleasant for those parents to spend time in, and Toys R Us has decidedly not been so for the past 20 years. If you're going to have to shop in a crappy big box to buy toys, you might as well just get it all over with at Walmart in one stroke.
You can't make those upgrades, either, when you're saddled with the kind of debt they had.
My 2 pfennigs: someone will buy the name and attempt to reopen a small handful of regional stores. TRU may be gone, but it might be TRU The Next Generation .
Bain Capital? Mitt Romney killed Toys R Us?
Quote from: english si on March 15, 2018, 02:45:26 PM
Their problem wasn't brick-and-mortar, their problem was big out-of-town stores that you had to travel to by car when your market can't drive.
Even though adults may be the ones who ultimately hand over the cash and purchase a toy, I think there's some validity in this point. To an extent, children have long used toy stores as kind of a try-before-mom-buys playroom, a place to actually see and touch whatever they've seen hyped on Saturday morning commercials before they plead with their parents to buy it.
Unfortunately in the United States, many if not most children live in utterly car-dependent suburban areas where walking to any kind of business is nearly impossible. But in the suburban shopping mall era, it's notable that Toys "˜R' Us stores typically were not inside or attached to the malls themselves but rather in outparcels, disconnected from the mall and frequently not providing easy pedestrian access from it. In my childhood, it would be common to drive to the mall as a family: Dad would go to Sears to look at hardware, Mom might take Little Sister to JCPenney to buy clothing, and Older Brother would go to Kay Bee to look at/play with toys.
On the other hand, going to Toys "˜R' Us would require a separate trip with a parent accompanying the children–a proposition the parents might entertain only if we were looking for a specific toy for a specific purpose (like a birthday present).
Then again, as the middle-class, middle-of-the-road suburban shopping mall is itself dying, having mall accessibility may have done little to help Toys "˜R' Us in recent years. And in a larger sense, it seems like toys as a whole are becoming increasingly irrelevant to children. Many of them get smartphones and tablets in their hands around age 3-4, and it seems like from that point forward toys are merely a distraction.
Quote from: Rothman on March 16, 2018, 10:44:14 AM
Bain Capital? Mitt Romney killed Toys R Us?
This is an example of an unsuccessful parasite. Successful parasites don't take more from the host than the host can live without.
Quote from: Brandon on March 15, 2018, 10:37:16 AM
Quote from: abefroman329 on March 15, 2018, 09:56:08 AM
Frankly, I'm surprised they lasted as long as they did. Of all the brick-and-mortar stores to be threatened by online shopping, toy stores seemed one of the most vulnerable.
IMHO, online shopping is a bit overrated (Amazon surprisingly doesn't make much of a profit - exactly the kind of business model that led to the dot com bust in 2000-2001). The prices aren't really much better (I've found better prices at Walmart than Amazon). It's the massive debt load that did them in (read the articles I linked).
Price isn't the only reason for online shopping–it's a lot easier to find things instead of traipsing about the store trying to guess how it might be categorized, well, it's kind of like Item X that I know is in Aisle Y, no, it's not there, it's kind of like Item Z, I'll check over there...I could try to hunt down someone and hope they know what I'm talking about and where it is...or I could type it into a box on my computer and have my options shown in seconds.
That, and you have options available to you that you would never have in a B&M setup. One of my business's vendors is a guy in Maryland that manufactures playing card boxes. He's working on making a dice tower (a thing you can toss dice into and they bounce around inside and come out all randomized) and I'm pretty excited about it because I like the guy's stuff. Would have no way of getting it if not for online shopping–his products aren't carried in any stores around here.
Price isn't everything.
Quote from: TXtoNJ on March 16, 2018, 10:00:30 AMTheir market could drive, though - it's parents, not kids.
Which is why all the toy adverts are during the news, or NCIS, or whatever and not all the time on channels like Disney, Nickelodeon, Cartoon Network, etc ;)
Yes the parents pay (especially with younger kids), but the kids are the ones who want to go there, and the parents can much easier say 'no' if it is a specific drive, rather than right next to somewhere else where they go regularly - or even in the same shop (eg Walmart).
It was interesting, just before Christmas we went to a Toys R Us in Fort Myers looking for stuff for our relatives' kids. Found some of what we wanted, but in general we were rather dismayed by the el cheapo plasticky nature of most of the merchandise. We later stopped at a small independent toy store in the Bell Tower Shops and it was a totally different experience–better stuff, no focus on noisy violent shoot-em-up merchandise....and the store was pretty crowded, seemed to do a good business. Kind of made me wonder whether the more traditional small stores might make a bit of a comeback.
I remember Toys R Us in the 1980s not being nearly as el cheapo as now, although no doubt part of that is overall market trends.
Quote from: formulanone on March 15, 2018, 02:32:10 PM
They also had a terrible return policy: No receipt = too bad, you own it.
Nearly every retailer allows for store credit, at a minimum.
Work service desk at Kmart. This is also our return policy. No receipt, no help.
I would think having a receipt would be pretty standard for a return policy. Otherwise, what's to stop anyone from buying an item at a store that sells it cheaper and then "returning" it for more money?
Quote from: vdeane on March 17, 2018, 07:00:06 PM
I would think having a receipt would be pretty standard for a return policy. Otherwise, what's to stop anyone from buying an item at a store that sells it cheaper and then "returning" it for more money?
Yup. My brother once worked "loss prevention" at a department store and he says the things the "return artists" tried to pull were bizarre. I believe it because 25 years ago I worked at a computer store and the stunts people pulled to try to return software they'd clearly bought and copied were crazy.
There's a story, probably untrue, that Nordstrom once accepted a return of some car tires, even though they don't sell them, because of their generous return policy. I doubt it's true, but everyone who works at Nordstrom knows the story. I had to exchange some shirts there a few weeks ago (with a receipt) and the salesman said none of them know whether that story is true.
Quote from: RobbieL2415 on March 17, 2018, 06:17:58 PM
Quote from: formulanone on March 15, 2018, 02:32:10 PM
They also had a terrible return policy: No receipt = too bad, you own it.
Nearly every retailer allows for store credit, at a minimum.
Work service desk at Kmart. This is also our return policy. No receipt, no help.
...Kmart has also been swirling around the bowl for the best part of a decade now.
Quote from: vdeane on March 17, 2018, 07:00:06 PM
I would think having a receipt would be pretty standard for a return policy. Otherwise, what's to stop anyone from buying an item at a store that sells it cheaper and then "returning" it for more money?
Thanks to advanced POS systems, they typically give you back the lowest advertised price for any item.
To be honest, this might happen to me once a year. If the kids get multiple of something as a gift, and don't give us the gift receipt, might as well let them exchange it. Most of the major big-box retail players in the past two decades have given store credit for items they keep in stock, although they usually have restrictions on certain items (produce, electronics, software, gift cards, inflatable mattresses, et al). It's probably been a decent cornerstone of their business: so what if you average 5% shrink of these kinds of things, the other 95% gives the benefit of the doubt to the consumer, who line corporate pockets one way or another. The clerk making $8-15 doesn't care; they know a noisy, fussy customer makes more people upset.
I was once told by The Home Depot and Lowe's employees that the one physical item - excluding gift cards - that they didn't accept returns without a receipt were tape measures, since every other customer seemed to own one and they were very easy to steal. I'm sure they've changed their policies since then.
Quote from: 1995hoo on March 17, 2018, 08:10:16 PM
There's a story, probably untrue, that Nordstrom once accepted a return of some car tires, even though they don't sell them, because of their generous return policy. I doubt it's true, but everyone who works at Nordstrom knows the story. I had to exchange some shirts there a few weeks ago (with a receipt) and the salesman said none of them know whether that story is true.
Like Nordstrom's, Publix Supermarkets had a no-questions-asked policy. Their guarantee of "satisfaction guaranteed until the food is eaten and enjoyed" was iron-clad; on rare occasions, people would literally return half-eaten food or empty containers and successfully get a refund. People would also clean out their pantries and return old/expired canned or boxed goods for a refund, and they'd do the same. If the item's bar code scanned, you could return it. Having been away from them for over 20 years, I couldn't tell you if they still do it.
The only exception was when folks tried to return Winn-Dixie private label items at the store, and they didn't scan...
There are certainly some items that are usually not returnable, receipt or no; the most obvious one is that many hardware stores won't allow returns of toilet plungers for rather obvious reasons! (Our plunger had a sticker on it when we bought it emphasizing that it was non-returnable.)
Some states have very strict consumer protection laws. For instance, CT state law requires retailers to accept returns on most items unless the store clearly posts a return policy. Retailers are also required to:
-Display the price of each item as it is scanned (unless the items are NOT commodities AND the customer is provided a receipt for their purchase)
-Disclose the unit price of all commodities
-Give the customer a quantity of one commodity item for free (up to a value of $20) should it ring up higher than labeled.
Quote from: formulanone on March 18, 2018, 01:19:55 PM
Thanks to advanced POS systems, they typically give you back the lowest advertised price for any item.
To be honest, this might happen to me once a year. If the kids get multiple of something as a gift, and don't give us the gift receipt, might as well let them exchange it. Most of the major big-box retail players in the past two decades have given store credit for items they keep in stock, although they usually have restrictions on certain items (produce, electronics, software, gift cards, inflatable mattresses, et al). It's probably been a decent cornerstone of their business: so what if you average 5% shrink of these kinds of things, the other 95% gives the benefit of the doubt to the consumer, who line corporate pockets one way or another. The clerk making $8-15 doesn't care; they know a noisy, fussy customer makes more people upset.
So if you bought something at a store selling items at full retail price, but WalMart sells it for half that, when you go to return it, you'd only get WalMart's price?
I wouldn't be surprised if return policies are more permissive if customers only get back "store credit" rather than real money.
I work at Walmart and if you return an item without a receipt, you get the price the item currently scans at. So if the item has gone on clearance, but you bought it at full price, you get the clearance price back, most likely on a gift card. Walmart no longer gives cash back for no receipt returns. If you had your receipt you'd get back the price you paid and would have the option of getting cash or a refund to the original method of payment. Too many people try to get away with stuff. All electronics items get checked by an associate from the department to make sure all parts are there, especially if the box has been opened. If all the parts aren't there the return is typically denied.
Quote from: tchafe1978 on March 18, 2018, 09:17:59 PM
I work at Walmart and if you return an item without a receipt, you get the price the item currently scans at. So if the item has gone on clearance, but you bought it at full price, you get the clearance price back, most likely on a gift card. Walmart no longer gives cash back for no receipt returns. If you had your receipt you'd get back the price you paid and would have the option of getting cash or a refund to the original method of payment. Too many people try to get away with stuff. All electronics items get checked by an associate from the department to make sure all parts are there, especially if the box has been opened. If all the parts aren't there the return is typically denied.
And if you buy it on sale and then return it when the sale is over, do you get back more than what you paid for?
Quote from: 1 on March 18, 2018, 09:27:24 PM
Quote from: tchafe1978 on March 18, 2018, 09:17:59 PM
I work at Walmart and if you return an item without a receipt, you get the price the item currently scans at. So if the item has gone on clearance, but you bought it at full price, you get the clearance price back, most likely on a gift card. Walmart no longer gives cash back for no receipt returns. If you had your receipt you'd get back the price you paid and would have the option of getting cash or a refund to the original method of payment. Too many people try to get away with stuff. All electronics items get checked by an associate from the department to make sure all parts are there, especially if the box has been opened. If all the parts aren't there the return is typically denied.
And if you buy it on sale and then return it when the sale is over, do you get back more than what you paid for?
If with a receipt you get the price you paid. If without a receipt you get what it currently scans at, on a gift card, so technically yes.
CVS does lowest price in the last 60 days, store credit, and ID tracking.
Most places give you the lowest price it's been for the past 60/90 days or whatever without a receipt. I thought Wal-Mart did the same based on something I returned a while back.
Quote from: 1995hoo on March 17, 2018, 08:10:16 PM
There's a story, probably untrue, that Nordstrom once accepted a return of some car tires, even though they don't sell them, because of their generous return policy. I doubt it's true, but everyone who works at Nordstrom knows the story. I had to exchange some shirts there a few weeks ago (with a receipt) and the salesman said none of them know whether that story is true.
I don't know about that one, but there's a TRUE story of a woman who returned a dead Christmas tree to Costco -- in January. And Costco refunded her money.
https://nypost.com/2018/01/10/woman-returns-dead-christmas-tree-to-costco-in-january/
Quote from: formulanone on March 18, 2018, 01:19:55 PM
Quote from: 1995hoo on March 17, 2018, 08:10:16 PM
There’s a story, probably untrue, that Nordstrom once accepted a return of some car tires, even though they don’t sell them, because of their generous return policy. I doubt it’s true, but everyone who works at Nordstrom knows the story. I had to exchange some shirts there a few weeks ago (with a receipt) and the salesman said none of them know whether that story is true.
Like Nordstrom's, Publix Supermarkets had a no-questions-asked policy. Their guarantee of "satisfaction guaranteed until the food is eaten and enjoyed" was iron-clad; on rare occasions, people would literally return half-eaten food or empty containers and successfully get a refund. People would also clean out their pantries and return old/expired canned or boxed goods for a refund, and they'd do the same. If the item's bar code scanned, you could return it. Having been away from them for over 20 years, I couldn't tell you if they still do it.
Want to say that's still the policy. I've had to put a few items of food that were quite obviously returned after having been gotten into in with the damages in the back. Haven't heard of the latter happening, but it may just be a rare thing (or there could've been a change in policy).
IKEA's return policy used to be so generous that I once bought a lamp, broke the lamp cover while putting it together, brought everything back to the store with the receipt, and had the option of exchanging it for another lamp or getting a full refund. This was 15 years ago, and I doubt their exchange policy is nearly that generous nowadays.
Quote from: abefroman329 on March 20, 2018, 11:20:18 AM
IKEA's return policy used to be so generous that I once bought a lamp, broke the lamp cover while putting it together, brought everything back to the store with the receipt, and had the option of exchanging it for another lamp or getting a full refund. This was 15 years ago, and I doubt their exchange policy is nearly that generous nowadays.
Actually, I believe it's more generous. Today's return policy permits returns up to 365 days after original purchase. It used to be 90 days.
The key with Ikea though - you MUST have the receipt. They will not honor any returns without it, or a copy of it. A few years back I bought an Ikea Kitchen (and few thousand dollars of other stuff). I never had a problem returning anything - even getting some missing screws and other stuff - as long as I had the receipt. Because the kitchen stuff is warrantied for 25 years, the employees warned me about the issues of the receipt print fading away. They constantly recommended scanning the receipts so that if I have a problem years from now, the scanned copy will still be acceptable proof of purchase.
Quote from: tchafe1978 on March 18, 2018, 09:17:59 PM
I work at Walmart and if you return an item without a receipt, you get the price the item currently scans at. So if the item has gone on clearance, but you bought it at full price, you get the clearance price back, most likely on a gift card. Walmart no longer gives cash back for no receipt returns. If you had your receipt you'd get back the price you paid and would have the option of getting cash or a refund to the original method of payment. Too many people try to get away with stuff. All electronics items get checked by an associate from the department to make sure all parts are there, especially if the box has been opened. If all the parts aren't there the return is typically denied.
I've also noticed Wal-Mart limits the number of returns by an individual. I'm not sure of the number, but more than X returns in a 6-month period they will supposedly refuse the return.
Quote from: english si on March 17, 2018, 08:47:43 AM
Quote from: TXtoNJ on March 16, 2018, 10:00:30 AMTheir market could drive, though - it's parents, not kids.
Which is why all the toy adverts are during the news, or NCIS, or whatever and not all the time on channels like Disney, Nickelodeon, Cartoon Network, etc ;)
Yes the parents pay (especially with younger kids), but the kids are the ones who want to go there, and the parents can much easier say 'no' if it is a specific drive, rather than right next to somewhere else where they go regularly - or even in the same shop (eg Walmart).
You advertise to the kids because they will annoy their parents into purchasing. Cynical, but effective - kids have far fewer psychological defenses against advertising manipulation.
It's easier for a parent to say "we're not going" if they simply do not like being at Toys R Us, and can get the same toy at Walmart with less avoidable hassle.
Quote from: US71 on March 20, 2018, 12:45:07 PM
Quote from: tchafe1978 on March 18, 2018, 09:17:59 PM
I work at Walmart and if you return an item without a receipt, you get the price the item currently scans at. So if the item has gone on clearance, but you bought it at full price, you get the clearance price back, most likely on a gift card. Walmart no longer gives cash back for no receipt returns. If you had your receipt you'd get back the price you paid and would have the option of getting cash or a refund to the original method of payment. Too many people try to get away with stuff. All electronics items get checked by an associate from the department to make sure all parts are there, especially if the box has been opened. If all the parts aren't there the return is typically denied.
I've also noticed Wal-Mart limits the number of returns by an individual. I'm not sure of the number, but more than X returns in a 6-month period they will supposedly refuse the return.
I'm not aware of a policy limiting returns with a receipt, but returns without a receipt there is definitely a limit. Not sure of the exact limit, but that's why we take you driver's license number if you do a return without a receipt, so the system can track the number or returns you've done and can deny them after the limit is reached.
Quote from: TXtoNJ on March 20, 2018, 02:42:48 PM
Quote from: english si on March 17, 2018, 08:47:43 AM
Quote from: TXtoNJ on March 16, 2018, 10:00:30 AMTheir market could drive, though - it's parents, not kids.
Which is why all the toy adverts are during the news, or NCIS, or whatever and not all the time on channels like Disney, Nickelodeon, Cartoon Network, etc ;)
Yes the parents pay (especially with younger kids), but the kids are the ones who want to go there, and the parents can much easier say 'no' if it is a specific drive, rather than right next to somewhere else where they go regularly - or even in the same shop (eg Walmart).
You advertise to the kids because they will annoy their parents into purchasing. Cynical, but effective - kids have far fewer psychological defenses against advertising manipulation.
....
Heh. Your comment immediately made me think of this episode:
http://youtu.be/bi2TkDTXQMs
Article of some retailers using a database to refuse certain customers from returning items: https://www.npr.org/sections/thetwo-way/2018/03/19/593920576/some-retailers-are-holding-your-returns-against-you
I think I recall reading somewhere that Amazon will ban people who return/exchange too many items.
I don't have a problem with places limiting returns. Returns should really only be done if there is something wrong with the item (defective) or it doesn't serve the purpose the customer had in mind. Either of those should be known soon after purchase. Returning something that I used extensively feels wrong, even if the company allows it.
Quote from: Scott5114 on March 21, 2018, 05:42:56 PM
Returning something that I used extensively feels wrong, even if the company allows it.
What if it's something that doesn't lose value over time or with use?
I can't think of something that you could buy in a typical retail context for which that would be true.
Anything I can think of that would, I would be reselling to someone else.
Quote from: jeffandnicole on March 20, 2018, 12:27:43 PM
Quote from: abefroman329 on March 20, 2018, 11:20:18 AM
IKEA's return policy used to be so generous that I once bought a lamp, broke the lamp cover while putting it together, brought everything back to the store with the receipt, and had the option of exchanging it for another lamp or getting a full refund. This was 15 years ago, and I doubt their exchange policy is nearly that generous nowadays.
Actually, I believe it's more generous. Today's return policy permits returns up to 365 days after original purchase. It used to be 90 days.
The key with Ikea though - you MUST have the receipt. They will not honor any returns without it, or a copy of it. A few years back I bought an Ikea Kitchen (and few thousand dollars of other stuff). I never had a problem returning anything - even getting some missing screws and other stuff - as long as I had the receipt. Because the kitchen stuff is warrantied for 25 years, the employees warned me about the issues of the receipt print fading away. They constantly recommended scanning the receipts so that if I have a problem years from now, the scanned copy will still be acceptable proof of purchase.
Yeah, we also tried returning a futon several years after it had been purchased, but without a receipt, and they sent us packing.
http://philadelphia.cbslocal.com/2018/03/22/toys-r-us-founder-charles-lazarus-dies/
Update the founding leader of Toys R US has died.
Every year for the past 7-9 years (not exactly sure how many), I have been playing Christmas songs on my viola to raise money for Toys for Tots. I average about $800 per year, and I go to Toys Я Us to buy the toys.
I won't be able to do that this year if they're closing (and I don't know of any competitors in this area).
Quote from: bing101 on March 22, 2018, 03:31:43 PM
http://philadelphia.cbslocal.com/2018/03/22/toys-r-us-founder-charles-lazarus-dies/
Update the founding leader of Toys R US has died.
Oddly coincidental timing giving the demise of the company he founded.
Aww. At least his company outlived him.
Quote from: 1 on March 22, 2018, 03:34:34 PM
Every year for the past 7-9 years (not exactly sure how many), I have been playing Christmas songs on my viola to raise money for Toys for Tots. I average about $800 per year, and I go to Toys Я Us to buy the toys.
I won't be able to do that this year if they're closing (and I don't know of any competitors in this area).
Target and Walmart both sell toys.
Quote from: spooky on March 23, 2018, 06:53:28 AM
Quote from: 1 on March 22, 2018, 03:34:34 PM
Every year for the past 7-9 years (not exactly sure how many), I have been playing Christmas songs on my viola to raise money for Toys for Tots. I average about $800 per year, and I go to Toys Я Us to buy the toys.
I won't be able to do that this year if they're closing (and I don't know of any competitors in this area).
Target and Walmart both sell toys.
Yeah, any big-box retailer sells toys at Christmastime. There's also Amazon.
I'm surprised and pleased that Mr. Mopp's toys in Berkeley is still around. They're a single store, ownership has changed but still doing well and crowded. My mom would take me there are buy toys when I was a little kid.
Quote from: abefroman329 on March 26, 2018, 03:08:58 PM
Quote from: spooky on March 23, 2018, 06:53:28 AM
Quote from: 1 on March 22, 2018, 03:34:34 PM
Every year for the past 7-9 years (not exactly sure how many), I have been playing Christmas songs on my viola to raise money for Toys for Tots. I average about $800 per year, and I go to Toys Я Us to buy the toys.
I won't be able to do that this year if they're closing (and I don't know of any competitors in this area).
Target and Walmart both sell toys.
Yeah, any big-box retailer sells toys at Christmastime. There's also Amazon.
If you order enough stuff, Amazon pays for shipping. Personally, I prefer "brick and mortar" stores.
Quote from: US71 on March 26, 2018, 05:06:29 PM
Quote from: abefroman329 on March 26, 2018, 03:08:58 PM
Quote from: spooky on March 23, 2018, 06:53:28 AM
Quote from: 1 on March 22, 2018, 03:34:34 PM
Every year for the past 7-9 years (not exactly sure how many), I have been playing Christmas songs on my viola to raise money for Toys for Tots. I average about $800 per year, and I go to Toys Я Us to buy the toys.
I won't be able to do that this year if they're closing (and I don't know of any competitors in this area).
Target and Walmart both sell toys.
Yeah, any big-box retailer sells toys at Christmastime. There's also Amazon.
If you order enough stuff, Amazon pays for shipping. Personally, I prefer "brick and mortar" stores.
I think they'd be better for purchasing toys, especially if you're unfamiliar with the toys.
Quote from: abefroman329 on March 26, 2018, 03:08:58 PM
Quote from: spooky on March 23, 2018, 06:53:28 AM
Quote from: 1 on March 22, 2018, 03:34:34 PM
Every year for the past 7-9 years (not exactly sure how many), I have been playing Christmas songs on my viola to raise money for Toys for Tots. I average about $800 per year, and I go to Toys Я Us to buy the toys.
I won't be able to do that this year if they're closing (and I don't know of any competitors in this area).
Target and Walmart both sell toys.
Yeah, any big-box retailer sells toys at Christmastime. There's also Amazon.
Since Amazon doesn't have storefronts per say; one can't play the viola to raise money for
Toys for Tots in front of Amazon.
Quote from: PHLBOS on March 27, 2018, 11:56:49 AM
Quote from: abefroman329 on March 26, 2018, 03:08:58 PM
Quote from: spooky on March 23, 2018, 06:53:28 AM
Quote from: 1 on March 22, 2018, 03:34:34 PM
Every year for the past 7-9 years (not exactly sure how many), I have been playing Christmas songs on my viola to raise money for Toys for Tots. I average about $800 per year, and I go to Toys Я Us to buy the toys.
I won't be able to do that this year if they're closing (and I don't know of any competitors in this area).
Target and Walmart both sell toys.
Yeah, any big-box retailer sells toys at Christmastime. There's also Amazon.
Since Amazon doesn't have storefronts per say; one can't play the viola to raise money for Toys for Tots in front of Amazon.
Ah, so OP plays the viola outside TRU and then goes in to buy toys with the money they raise. Yes, that would be very difficult to do with an e-retailer.
I don't play just outside of the store. I play in other places, like restaurants.
I went into my local Toys R Us yesterday, probably for the last time. We had a $10 gift card laying around...that's been laying around for several years...so we finally decided to use it.
I have to admit, it is a bittersweet moment. While the store inside had been remodeled many years ago, I still remember exactly how you would walk in, where the Legos were, etc. The 'Entrance' (with the backwards R) sign over the door is probably original to when the store opened, which I believe was in the late 70's or early 80's. (Fortunately GSV was in the parking lot recently: https://goo.gl/maps/CDDGZigHH7M2 )
FWIW, we got a game. Normally $11.99; 10% off; $11.50 total with tax. $10 gift card. $1.50 cash. And we walked out for the last time.
So no more Geoffrey the giraffe? These iconic store closings are getting to be ridiculous soon will be hearing that Ford is going out of business.
Quote from: dvferyance on April 02, 2018, 09:25:31 PM
So no more Geoffrey the giraffe? These iconic store closings are getting to be ridiculous soon will be hearing that Ford is going out of business.
:rofl:
GM and Ford will merge before it ever comes to that. Dodge, on the other hand...they're like the hot potato no one wants to be caught holding.
Quote from: DaBigE on April 02, 2018, 11:41:20 PM
Quote from: dvferyance on April 02, 2018, 09:25:31 PM
So no more Geoffrey the giraffe? These iconic store closings are getting to be ridiculous soon will be hearing that Ford is going out of business.
:rofl:
GM and Ford will merge before it ever comes to that. Dodge, on the other hand...they're like the hot potato no one wants to be caught holding.
Dodge isn't so bad. It's Chrysler that's the hot potato.
Quote from: kkt on April 03, 2018, 12:43:56 AM
Quote from: DaBigE on April 02, 2018, 11:41:20 PM
Quote from: dvferyance on April 02, 2018, 09:25:31 PM
So no more Geoffrey the giraffe? These iconic store closings are getting to be ridiculous soon will be hearing that Ford is going out of business.
:rofl:
GM and Ford will merge before it ever comes to that. Dodge, on the other hand...they're like the hot potato no one wants to be caught holding.
Dodge isn't so bad. It's Chrysler that's the hot potato.
I still think it was a stupid move by Chrysler to make Ram it's own brand rather than keeping the trucks under the Dodge label. People still call the trucks "Dodge Ram" instead of just "Ram" . They're not fooling anybody.
Quote from: LM117 on April 03, 2018, 07:34:49 AM
Quote from: kkt on April 03, 2018, 12:43:56 AM
Quote from: DaBigE on April 02, 2018, 11:41:20 PM
Quote from: dvferyance on April 02, 2018, 09:25:31 PM
So no more Geoffrey the giraffe? These iconic store closings are getting to be ridiculous soon will be hearing that Ford is going out of business.
:rofl:
GM and Ford will merge before it ever comes to that. Dodge, on the other hand...they're like the hot potato no one wants to be caught holding.
Dodge isn't so bad. It's Chrysler that's the hot potato.
I still think it was a stupid move by Chrysler to make Ram it's own brand rather than keeping the trucks under the Dodge label. People still call the trucks "Dodge Ram" instead of just "Ram" . They're not fooling anybody.
Just like Charter...doesn't matter if it's Spectrum or Spectrum Enterprise...everyone I've heard still knows them as Charter. With all the name shifting, at some point one has to wonder what you're trying to hide.
You hear more about Spectrum in New York, where it went straight to Spectrum from RoadRunner without the Charter branding.
And TimeWarner is now Spectrum with a merger.
RoadRunner was Time Warner's branding for internet service.
Quote from: vdeane on April 03, 2018, 02:32:22 PM
RoadRunner was Time Warner's branding for internet service.
Yep. I used to have it in the mid-2000's when I lived in NC.
We went to the Toys R Us in Monroe today. This store will close June 30th. As reported by others, the going out of business sale isn't much of a sale...40% off of many items. Baby supplies not included.
Drove past the Babies R Us in Ann Arbor today. They had a sign saying "Last 8 Days", which would make their last day April 29 (this store was in the first announced round of closings)
I forgot to mention...the Monroe store has signs up on the front of the store on big yellow banners: GOING OUT OF BUSINESS.
Inside the front foyer of the store on hot-pink pieces of paper: NOW HIRING. :confused: :eyebrow:
Quote from: cjk374 on April 22, 2018, 11:03:31 AM
I forgot to mention...the Monroe store has signs up on the front of the store on big yellow banners: GOING OUT OF BUSINESS.
Inside the front foyer of the store on hot-pink pieces of paper: NOW HIRING. :confused: :eyebrow:
Employees are bailing out so they need temps to do the work. Trane is moving out of town here, but they are still hiring temps
Quote from: US71 on April 22, 2018, 11:16:39 AM
Quote from: cjk374 on April 22, 2018, 11:03:31 AM
I forgot to mention...the Monroe store has signs up on the front of the store on big yellow banners: GOING OUT OF BUSINESS.
Inside the front foyer of the store on hot-pink pieces of paper: NOW HIRING. :confused: :eyebrow:
Employees are bailing out so they need temps to do the work. Trane is moving out of town here, but they are still hiring temps
I agree with you...but how difficult will it be for them to get any help with the banners outside? It can't help.
Someone who's unemployed might appreciate work, even for just a couple of months.
If the inventory is being sold by liquidators it might be the liquidation company doing the hiring.
What I don't get is why are they only closing in the United States? That is were they were founded and were there headquarters are. It's like Ikea closing all their stores in Sweden and leaving everything else open. So where is the corporate office going to be after this? Canada? Australia? This makes me believe they will be back in a few years.
Quote from: dvferyance on June 01, 2018, 07:02:09 PM
What I don't get is why are they only closing in the United States? That is were they were founded and were there headquarters are. It's like Ikea closing all their stores in Sweden and leaving everything else open. So where is the corporate office going to be after this? Canada? Australia? This makes me believe they will be back in a few years.
They are also closing in Canada and the UK.
I'm sure someone will buy the rights to the name. Didn't I hear Kay Bee Toys was coming back?
Quote from: dvferyance on June 01, 2018, 07:02:09 PM
What I don't get is why are they only closing in the United States? That is were they were founded and were there headquarters are. It's like Ikea closing all their stores in Sweden and leaving everything else open. So where is the corporate office going to be after this? Canada? Australia? This makes me believe they will be back in a few years.
I assume each country has different rules on bankruptcy. I read that the Canada stores were bought by another company. UK/US didn't have any buyers.
It looks like Toys 'Я' Us is about dead now. I actually had no idea it was this close to complete death until I watched this video just now:
https://m.youtube.com/watch?v=A8OPvx1nhSM&t=628s
I haven't quite been keeping up with the scoop on Toys 'Я' Us since they filed for bankruptcy back in the Fall, so that's why this news came as a surprise to me. I can't believe it's already all about over. It is sad to hear this indeed, as I remembered loving Toys 'Я' Us as a kid.
I do regret that I didn't keep up with this news, because even though I haven't regularly played with toys for at least a decade, I would have picked up a couple of soveniers from this childhood store before all the good stuff was all gone. It seems to be too late for that now, though, at this point.
Toys 'Я' Us will always live on in my memory, and they had a good run. In that video I watched, I think it said Toys 'Я' Us had been operating for about 70 years. They had a long, good run until the end (the last decade), and they brought happiness to a lot of people over the years, so that's good.
Quote from: adventurernumber1 on June 24, 2018, 03:39:45 PM
It looks like Toys 'Я' Us is about dead now. I actually had no idea it was this close to complete death until I watched this video just now:
I heard on the news that the end of the month is when they will lock their doors for good.
I've noticed that traffic is a LOT better than usual on Wolf Road heading home from work; wouldn't be surprised if this is why. The video's point about holiday sales certainly explains why last December had far better traffic than December 2016.
All stores will close Friday.
https://www.wral.com/toys-r-us-to-close-all-stores-friday/17652892/ (https://www.wral.com/toys-r-us-to-close-all-stores-friday/17652892/)
Wow. I wonder if it would be worth making a last visit. Daughter and I moved on to more expensive toys years ago, but I'm still sad they're going.
Quote from: kkt on June 25, 2018, 04:16:00 PM
Wow. I wonder if it would be worth making a last visit. Daughter and I moved on to more expensive toys years ago, but I'm still sad they're going.
Most likely not much left by this point.
Visited ours about ten days ago and it definitely felt picked over.
(https://uploads.tapatalk-cdn.com/20180630/4b32cd0f080b6fc7844922f74fd95c1b.jpg)
Quote from: 1995hoo on June 30, 2018, 11:34:57 AM
(https://uploads.tapatalk-cdn.com/20180630/4b32cd0f080b6fc7844922f74fd95c1b.jpg)
(https://i.imgflip.com/1f763w.jpg)
I never shopped there. My parents always shopped at Sears or JCPenney for toys.
:hmm:
https://www.cbsnews.com/news/toys-r-us-babies-r-us-brand-comeback-in-works-as-bankruptcy-auction-canceled/ (https://www.cbsnews.com/news/toys-r-us-babies-r-us-brand-comeback-in-works-as-bankruptcy-auction-canceled/)
^ When a group of investors plucks a trademark from a pile of rubble that once was a business, and the investors then apply that trademark to a new business having no connection to the original, I'd hardly call that a "revival" or a "comeback" .
Quote from: briantroutman on October 03, 2018, 01:19:29 PM
^ When a group of investors plucks a trademark from a pile of rubble that once was a business, and the investors then apply that trademark to a new business having no connection to the original, I'd hardly call that a "revival" or a "comeback" .
Yeah, I read this story and immediately thought of the Circuit City "revival" that has yet to go anywhere.
https://www.cbsnews.com/news/toys-r-us-coming-back-under-new-name/ (https://www.cbsnews.com/news/toys-r-us-coming-back-under-new-name/)
Quote from: abefroman329 on October 03, 2018, 01:30:57 PM
Quote from: briantroutman on October 03, 2018, 01:19:29 PM
^ When a group of investors plucks a trademark from a pile of rubble that once was a business, and the investors then apply that trademark to a new business having no connection to the original, I'd hardly call that a "revival" or a "comeback" .
Yeah, I read this story and immediately thought of the Circuit City "revival" that has yet to go anywhere.
Some big retailer will sell a few "Toys R Us"-branded toys to milk out a little nostalgia from the parents.
Quote from: formulanone on February 12, 2019, 06:38:47 AM
Quote from: abefroman329 on October 03, 2018, 01:30:57 PM
Quote from: briantroutman on October 03, 2018, 01:19:29 PM
^ When a group of investors plucks a trademark from a pile of rubble that once was a business, and the investors then apply that trademark to a new business having no connection to the original, I'd hardly call that a "revival" or a "comeback" .
Yeah, I read this story and immediately thought of the Circuit City "revival" that has yet to go anywhere.
Some big retailer will sell a few "Toys R Us"-branded toys to milk out a little nostalgia from the parents.
Hey, at least there's nostalgia to be milked. Who in the hell is nostalgic for Circuit City?
I doubt this will last, but...
https://www.bloomberg.com/news/articles/2019-06-21/toys-r-us-back-from-the-dead-will-open-u-s-stores-in-2019 (https://www.bloomberg.com/news/articles/2019-06-21/toys-r-us-back-from-the-dead-will-open-u-s-stores-in-2019)
Quote from: LM117 on June 22, 2019, 06:10:39 PM
I doubt this will last, but...
https://www.bloomberg.com/news/articles/2019-06-21/toys-r-us-back-from-the-dead-will-open-u-s-stores-in-2019 (https://www.bloomberg.com/news/articles/2019-06-21/toys-r-us-back-from-the-dead-will-open-u-s-stores-in-2019)
It will last until the next downturn.
Quote from: LM117 on June 22, 2019, 06:10:39 PM
I doubt this will last, but...
https://www.bloomberg.com/news/articles/2019-06-21/toys-r-us-back-from-the-dead-will-open-u-s-stores-in-2019 (https://www.bloomberg.com/news/articles/2019-06-21/toys-r-us-back-from-the-dead-will-open-u-s-stores-in-2019)
They will have to build new here. The building was sold to an outdoors company
Quote from: LM117 on June 22, 2019, 06:10:39 PM
I doubt this will last, but...
https://www.bloomberg.com/news/articles/2019-06-21/toys-r-us-back-from-the-dead-will-open-u-s-stores-in-2019 (https://www.bloomberg.com/news/articles/2019-06-21/toys-r-us-back-from-the-dead-will-open-u-s-stores-in-2019)
My guess: they put a few locations in these so-called "lifestyle centers" where folks might be more apt to spending a few on the kids after shopping for themselves.
Quote from: US71 on June 23, 2019, 09:34:56 AM
Quote from: LM117 on June 22, 2019, 06:10:39 PM
I doubt this will last, but...
https://www.bloomberg.com/news/articles/2019-06-21/toys-r-us-back-from-the-dead-will-open-u-s-stores-in-2019 (https://www.bloomberg.com/news/articles/2019-06-21/toys-r-us-back-from-the-dead-will-open-u-s-stores-in-2019)
They will have to build new here. The building was sold to an outdoors company
They would have to build new here as well. Big Lots is moving into the building in August. They're relocating from another shopping center in town where Walmart Neighborhood Market is. The building Big Lots is in right now is much smaller. I don't blame Big Lots for relocating, but I'm dreading it since I go there often and it puts them further away from me and the traffic where the old Toys R Us building is located is terrible. For a small city, Danville has horrendous traffic.
All that said, there's no chance in hell of them ever coming back here. Businesses have been closing here left and right in recent years. Anybody with a hope for a future and the means of getting out is getting out. I would've moved out long by now if I could've done so.
Given the smaller footprint, they'll probably end up building new in a lot of places. Unless they plan to re-use Babies R Us locations?
Quote from: vdeane on June 23, 2019, 09:27:38 PM
Given the smaller footprint, they'll probably end up building new in a lot of places. Unless they plan to re-use Babies R Us locations?
That might also work, but we shall see.
It's good that they are reopening! I guess it's nice. Get the kids to look in the toy store!
Looks like Macy's will be getting toys.
https://www.usatoday.com/story/money/shopping/2021/08/19/macys-toys-r-us-comeback-new-partnership-toy-stores/8191647002/ (https://www.usatoday.com/story/money/shopping/2021/08/19/macys-toys-r-us-comeback-new-partnership-toy-stores/8191647002/)
The Toys R Us near us was divided into a furniture store and an Aldi.
Quote from: 1995hoo on August 19, 2021, 09:33:40 PM
The Toys R Us near us was divided into a furniture store and an Aldi.
Mine was turned into an outdoor/sporting goods store.
The one by here is now a fitness center.
The one closest to me (near the Kenwood mall) is still vacant.
Quote from: 1995hoo on August 19, 2021, 09:33:40 PM
The Toys R Us near us was divided into a furniture store and an Aldi.
Ours is now an Aldi as well. It's now the closest Aldi to us, so that's one of the stores we regularly shop at.
All the Toys 'R' Us stores in the Richmond, VA area remain vacant. The one on Quioccasin Road in Henrico County is currently being gutted and renovated, though, so it seems likely the building will have a new tenant soon.
Quote from: WillWeaverRVA on August 20, 2021, 11:09:46 AM
All the Toys 'R' Us stores in the Richmond, VA area remain vacant. The one on Quioccasin Road in Henrico County is currently being gutted and renovated, though, so it seems likely the building will have a new tenant soon.
The one here in Danville became a Big Lots. When Big Lots first announced that they were taking over the building, I thought they were just gonna relocate from their existing location near Walmart Neighborhood Market on Nor-Dan Drive, but they kept that store open as well. I can't think of any other small city that has 2 Big Lots stores.
The Toys R Us warehouse at 209 Geoffrey Way, Frederick, Maryland near the interchange of I-270 and MD-85 has been converted to a Kroger warehouse. Which is interesting since there are no Kroger stores in the state (Kroger subsidiary Harris Teeter has a small presence in the state).
Apparently they will use this locations to fulfill cyber orders and does not need to be near a brick-and-mortar location.
WTOP radio report from 2020 here (https://wtop.com/business-finance/2020/07/kroger-is-coming-to-dc-but-just-virtually/).
Quote from: cpzilliacus on September 28, 2021, 12:01:39 AM
The Toys R Us warehouse in Frederick, Maryland near the interchange of I-270 and MD-85 has been converted to a Kroger warehouse. Which is interesting since there are no Kroger stores in the state (Kroger subsidiary Harris Teeter has a small presence in the state). Apparently they will use this locations to fulfill cyber orders.
Kinda surprised they'd use a high-tax state to fill cyber orders.
Quote from: kkt on September 28, 2021, 12:03:20 AM
Quote from: cpzilliacus on September 28, 2021, 12:01:39 AM
The Toys R Us warehouse in Frederick, Maryland near the interchange of I-270 and MD-85 has been converted to a Kroger warehouse. Which is interesting since there are no Kroger stores in the state (Kroger subsidiary Harris Teeter has a small presence in the state). Apparently they will use this locations to fulfill cyber orders.
Kinda surprised they'd use a high-tax state to fill cyber orders.
Which taxes?
By some metrics, New Jersey has some of the highest taxes in the U.S. yet there are many, many warehouses there (including dozens along the Turnpike north of Exit 6).
The company is alive and well in South Africa.
Businesspeople say "Location, Location, Location" far more than they say "Taxes, Taxes, Taxes.
Quote from: kkt on September 28, 2021, 12:03:20 AM
Quote from: cpzilliacus on September 28, 2021, 12:01:39 AM
The Toys R Us warehouse in Frederick, Maryland near the interchange of I-270 and MD-85 has been converted to a Kroger warehouse. Which is interesting since there are no Kroger stores in the state (Kroger subsidiary Harris Teeter has a small presence in the state). Apparently they will use this locations to fulfill cyber orders.
Kinda surprised they'd use a high-tax state to fill cyber orders.
The only tax that matters here would be whether Maryland levies property taxes on inventory or not. For a business the size of Kroger, the sales taxes are calculated based on where the customer lives, not where the warehouse is.
Yes inventory tax varies state by state. Ohio used to have inventory tax until about 2008. Federal inventory tax is 25% of wholesale cost as valued on January 1st of each year IIRC. An advantage for many retailers since they are often wiped out on January 1st but not Kroger so much since Christmas doesn't wipe them out very badly and their inventory needs to stay fairly steady the entire year.
A new flagship store will open later this month at American Dream in East Rutherford, NJ.
https://www.prnewswire.com/news-releases/toysrus-opening-global-flagship-at-american-dream-301435070.html (https://www.prnewswire.com/news-releases/toysrus-opening-global-flagship-at-american-dream-301435070.html)
Quote from: LM117 on December 02, 2021, 08:12:07 AM
A new flagship store will open later this month at American Dream in East Rutherford, NJ.
https://www.prnewswire.com/news-releases/toysrus-opening-global-flagship-at-american-dream-301435070.html (https://www.prnewswire.com/news-releases/toysrus-opening-global-flagship-at-american-dream-301435070.html)
Hoorah! Maybe I'll visit next year or in 2023. I've yet to visit the mall, BTW.
The haunted Toys Я Us in Sunnyvale (https://www.sfgate.com/local/article/2021-04-haunted-toys-r-us-sunnyvale-ghosts-16135968.php) is now a haunted REI.
Also Macy's stores are selling Toys R Us toys this Christmas Season as well.
Macy's must have deal with them of some sort.
Quote from: roadman65 on December 02, 2021, 12:16:00 PM
Also Macy's stores are selling Toys R Us toys this Christmas Season as well.
Macy's must have deal with them of some sort.
Yes, to compete with Amazon. Amazon tried to advertise on the exterior of the flagship store of Macy's (the Herald Square location), but that hasn't gone over well.
Quote from: roadman65 on December 02, 2021, 12:16:00 PM
Also Macy's stores are selling Toys R Us toys this Christmas Season as well.
Macy's must have deal with them of some sort.
Yeah that's our local Toys R Us pitch
Quote from: roadman65 on December 02, 2021, 12:16:00 PM
Also Macy's stores are selling Toys R Us toys this Christmas Season as well.
Macy's must have deal with them of some sort.
Yeah, it's a "store-within-a-store" deal. Of course, Macy's isn't doing particularly hot at the moment either.
Can't wait for the Amazon Thanksgiving Day Parade in 2025.
A deal with Macy's was announced today.
https://www.businesswire.com/news/home/20220718005254/en/ (https://www.businesswire.com/news/home/20220718005254/en/)
Wow, I didn't realize Macy's OR Toys R Us still existed.