Toys R Us retrenches again, shutters its last 2 US stores
(AP Photo/Seth Wenig)NEW YORK – Toys R Us is retrenching once again. The only two Toys R Us stores that opened in November 2019 as part of a small U.S. comeback attempt by the iconic toy chain have now closed. The Toys R Us website is still in operation. “Consumer demand in the toy category and for Toys R Us remains strong and we will continue to invest in the channels where the customer wants to experience our brand.”AdThe two shuttered locations were about 6,500 square feet — about one-seventh of the size of the old Toys R U stores and emphasized hands-on experiences. Tru Kids says that outside of the U.S., it operates Toys R Us, and Babies R Us branded stores and e-commerce sites through licensing partners in more than 25 countries in Asia, Europe, Africa and the Middle East.
US consumer confidence rises slightly to 130.7 in February
(AP Photo/Seth Wenig, File)WASHINGTON, D.C. – U.S. consumer confidence improved slightly in February, rising to a reading of 130.7, the highest point since August. The Conference Board said Tuesday that its measure of consumer sentiment is up from a revised reading of 130.4 in January. Consumer spending has been the driving force in the current economic expansion, now in its 11th year. Surveys of consumer sentiment are closely followed for clues about whether households remain in a buying mood. Consumer spending accounts for 70% of economic activity.
Toy stores hope playtime inside their shops leads to sales
In this Nov. 21, 2019 photo, Talya Cousins, right, looks at toys with Billie, 3, at Camp toy store in New York. The New Jersey store “has cool stuff,” said Jaelyn during an outing with her dad and little brother. Now a new generation of toy stores hopes to capitalize on the demise of the old Toys R Us by emphasizing playtime. Richard Barry, head of Toys R Us' new parent company, thinks about $2 billion of that market is up for grabs. While playtime makes sense for selling toys, it's not just toy stores that are focusing on activities.