Toys ‘R’ Us hasn’t announced when its going out of business sale will end, but the retailer already won’t accept coupons, isn’t redeeming reward points and set April 21 as a deadline for using gift cards for purchases. In fact, Toys ‘R’ Us accounted for about 12 percent of American toy sales in 2017, according to the firm’s consumer tracking service. The fall of Toys ‘R’ Us came in the midst of rising domestic toy sales - up 4.5 percent on average over the last three years, according to global information analyst NPD Group. The causes are complex but include the rise of e-commerce giants like Amazon, rising retail labor costs, the overbuilding of malls nationwide in previous decades and consumers shifting to discount chains like Family Dollar instead of mall anchors and big box behemoths, a trend that began in the wake of the 2008 recession.īut that doesn’t mean kids no longer play with toys. Toys R Us is kicking off its going-out-of-business sales after announcing plans to sell or close all of its U.S. International operations in Australia, France, Poland, Portugal and Spain consider to weigh their options, including seeking buyers in their markets, according to a statement issued by the corporate headquarters in New Jersey. Outside the United States, the company is pursuing a “going concern” reorganization by lining up potential buyers to take over stores in Canada, Asia and Central Europe. The once-dominant big box retailer hoped for strong Christmas season sales, but they never materialized With $5 billion in debt left over from a leveraged buyout by investors KKR, Bain Capital and Vornado Realty Trust, Toys ‘R’ Us declared bankruptcy in September. Shelves also brimmed with items like diapers and baby formula, which aren’t included in the sales, but most aisles that once held Legos and Star Wars toys were bare. At the Morena store, rows of “Talking Snowball” - a sassy electronic bunny - remained at $9.99 each and Wonder Woman dolls were going for $15.99, 60 percent off the suggested retail price.
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