The Toys “R” Us website is operated by the department store chain Macy’s.
Source: Toys “R” Us
Macy’s will work with Toys’R’Us owners to bring an assortment of children’s toys, games and other gadgets online to over 400 locations in the department store chain.
Macy’s Toys “R” Us shop-in-shop will open next year, the two companies announced Thursday. A larger selection of Toys’R’Us products is now available on the Macy’s website.
Natadville, Macy’s Chief Merchandising Officer, said: “Our partnership allows Macy’s to significantly expand our footprint in that category.”
Dvir added that shoppers want to visit Macy’s in search of toys and get some other items along the way, such as apparel and cosmetics. Macy’s faces fierce competition from online and large-box retailers Wal-Mart and Target, so boosts are available.
More specifically, Macy’s is chasing millennial mothers, CEO Jeff Gennett said in a conference call Thursday. When these young parents visit Macy’s to buy toys for their children, they often buy additional, other, more profitable items, he said.
The company raised its 2021 outlook after reporting second-quarter revenue and sales that exceeded analysts’ estimates as new customers were seen online.
Brand management firm WHP Global gained control of True Kids, the parent company of Toys “R” Us, Baby, The Stars and Jeffrey the Kirin earlier this year.
Backed by a fund managed by Solus Alternative Asset Management and the private equity group Ares Management, TruKids purchased its brand and intellectual property from Toys RUs after filing for Chapter 11 Bankruptcy Protection in September 2017. ToysRUs couldn’t finally get out of bankruptcy after the devastating 2017 holiday season and drive them to liquidation.
Tru Kids opened two mall pop-up locations for Toys “R” Us in 2019, but closed earlier this year due to poor performance during the Covid pandemic. After that, WHP Global vowed to reopen the physical store at some point.
WHP Global does not say how long it will partner with Macy’s.
Under the agreement, the Toys “R” Us website will be operated by Macy’s, the two companies said. For some time Target ran an iconic toy chain site, but that relationship broke down in July 2020.
Toys “R” Us will come to more than 400 Macy’s stores next year
Source link Toys “R” Us will come to more than 400 Macy’s stores next year