Toys "R" Us to close 75 stores, cut 3,000 jobs

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-01-09T223023Z_01_WEN7448_RTRIDST_0_RETAIL-TOYSRUS-URGENT.XML

NEW YORK, Jan 9 (Reuters) - Toy retailer Toys R Us Inc. on Monday said it will close 75 Toys "R" Us stores in the United States and convert 12 others into Babies "R" Us stores, eliminating about 3,000 jobs.

The company said in a regulatory filing that it will record restructuring and other charges of about $155 million, with about $99 million taken in the fourth quarter of fiscal 2005 and the remaining $56 million in the first quarter of 2006.

Most of the stores will close in the spring of 2006, Toys "R" Us said.

...short blurb...

another casualty of the Walmart juggernaut.

With It....they want what WE HAVE.... Sheesh...Kids don't need TOYS...

eom

the overhaul of their store layout a few years back was dreadful.

My husband has been predicting this for years now.

Last time I was in there got sticker shock.

I could see the kmart downfall coming as well, the store here I went too was one of worst stores I have even been in my life. They had no AC in the summer and the cashiers had tiny battery operated fans to keep cool. This was not just one year but the 7 years I have been back here in ohio. One cashier usually, hot miserable store, and unfriendly people.

Only reason I went there in summer was they were the only place around with live bait for fishing, so most the time I used chicken livers and said the heck with it.

I've gotten 2 for 1 deals, for brand new videogames, buy 1 get 1 free board games. What exactly do you want? If people want to bitch about not having rock bottom prices, well...how do you expect to pay that "fair wage?"

Most, like me, haven't shopped there since 1995 or 96, so I can no longer comment on cheap plastic crap toys. But plenty of folks around here comment for the sake of comment.

The single problem is, where do these 3000+ people get a job now? No one wants to overpay for "cheap plastic crap" so since toys aren't made of steel and tungsten anymore (too dangerous; remember Erector Sets, and chemistry sets, steel HO train sets, sniffing REAL airplane glue not that pansy crap that substitutes for glue anymore), where do these people get jobs?

BTW, 50 years ago when I was a kid toys were cheap plastic crap then because WE BROKE THE FUCKING TOYS, they weren't supposed to last for a million years or to be passed down to multi-generations.:rant:

"Educational toys? I think we had some at the end of Action Figure Aisle #17 once..."

Ever since the change I can't find a damn thing in that store! And you're right ... they are poorly managed.

I feel bad for the people who are losing their jobs. :-(

Might be for the best. xbox, et al, are what cause kids to remain separated from each other and contribute to obesity too.

:sarcasm:

And I think over specializing is not always the best way to go (unless you can offer something cheaper). Media play is another example - crappy stores and high prices.

and WHY SHOULDN'T THEY?

America has changed....Kids have CHANGED.. Toys are DEAD...No amount of Marketing can bring them back...why would any of "us" want "toys" if we were growing up today.

Kids don't have "childhoods" these days. They are Programmed from before BIRTH...Heck...their OWN BIRTH was chosen by ULTRASOUND and SELECTION of SEX....Sheesh ...we all need to get with the Program...and forget about "TOY STORES" for OUR KIDS...They really don't need it...

Give them an "Individual DVD Player for the Car, Cell Phone for Tots, Computer Games" and they can be "entertained for years." They will be GROWN before one has to deal with them. Good Riddance. Keep 'em occupied in the way we couldn't be and they will be "HAPPY CONSUMERS" and can support US in our "Old AGE!"

God love 'em....just keep them out there with all the GOOD STUFF.....!!!

both hilarious AND depressing.
You have nailed it.

As a parent, I hate shopping there. Thier prices suck and thier selection of toys I want my kid to have- as opposed to cheap plastic crap that makes noise- isn't that great. Oh and it's loud and visually jarring to the eye, like Wal-Mart, going in there promises a headache.

I doubt I'm the only parent who hates the place.

Edit: Babies R Us is a bit better. Visually it's much less crowded and jarring and they have a nicer mix of high quality stuff. Prices are still sky-high though, at least on the good stuff. For example they may have a competitive deal on a Cosco stroller or Graco car seat, but if you want better stuff like Peg Perego or Britax better deals (and wider selections of fabrics) are found online.

the monster under the bed.

The last time I was there, I could not find checkers or parcheesi, but there were entire sections devoted to games & toys based on cartoons and other TV shows.

for myself. Looks like I'll have to go to EBay to find a good one. Doesn't anyone play Parcheesi any more???

P.S. This is the most inane post I've ever had on DU but I just had to respond because I felt like a nincompoop looking for Parcheesi.

Just read another thread about how they're closing stores.

I have no reason to go to Toys R Us 'cause my "kids" are in their 30's now. Besides I want a classic version. I may still buy it on Ebay.

forgive me - I'm at work and have to surreptiously read DU sometimes:)

They reported after Christmas sales last year that if they didn't improve this Christmas, this would happen.

who cares?

:sarcasm:




thanks mcscajun

:sarcasm:

I remember a few years back they were so big and powerful that they scared other stores out of selling toys. Toy's R Us 'blackmailed' toy manufactors and told them if they sold toys through their competitors that they would go on Toys R Us's shit list. I guess now they are reaping what they sowed.

'geoffrey money' ?

of my youth are the best thing. These were usually home-owned too and not franchises. Does anyone recall this kind of business?

and I spend my money there when LK needs a toy I can't make or buy used. They have much nicer stuff, with a focus on well-made classic toys like Brio trains and Kettler trikes.

kits and glue them together. That's before they discovered people were sniffing the glue!! (I never did though. I was an admirable child).

They have 3 stores, and sell quality stuff. Reminds me a little of Zany Brainy and Imaginarium before they were taken over.

Here's their website: http://www.treetopkids.com/

*sigh*

This guy, however:

1. Owns the building.
2. Is the second-generation in his family to own it.
3. Pays his employees well and treats them well.
4. Hires people who are knowledgeable about hobbies
5. Will order whatever his customers are looking for.
6. Has a website whereby he will fill orders placed thousands of miles away.
7. Creates the kind of atmosphere where customers feel comfortable enough to stand around and bullshit with each other or the employees.


The prognosis for hobbies is mixed. Lots of adults are discovering or re-discovering hobbies. Kids are also getting interested, but in the old-fashioned ones -- space-age stuff, rocket ships, fighter planes, etc.

We made Model Railroad stuff and imported high quality plastic model kits. But even the hobby stores have closed their doors all over the country. Kids don't build models or play with trains or rockets or gas-powered planes or RC cars anymore.

It's a new dawn, and the passing of learned craftsmanship.:hurts:

All must be assimilated into the Walmart world or be destroyed.

Jeeze...I haven't seen kids "playing with toys" in about 10 Years! Get over it...Toys-R-Us needs to GO DOWN.

Our Kids today aren't into "FANTASY PLAY!" They want TECHNOLOGY!

So..what's the BIG DEAL about this????:shrug:

... now THAT was a fun kid's store to shop in!

Christmas and a couple of birthday parties. I hope we won't lose our store.

that's about all i can say for them. but as far as employees go, i recall i was treated pretty well during my time at toys r us.

because of this. I do think it's the Wal-Mart effect and the effectiveness of selling toys at similar stores; Toys "R" Us always struck me as a fairly junky, clunky place to shop -- true even in my childhood. It leaves only Kay-Bee Toys and a couple smaller (but not better) outfits in my city.

Without it they (the toy manufacturers) basically will have one customer and maybe 12 shelves to sell all of their stuff on.

Walmart hates your children.

It's a downer to see this. Being in that store was so exciting when I was a kid. I hope my kids get the same chance some day.

real toy stores..Toys R Us was the biggest, but we always had plenty of places to take them to look for that special gift..

interested in the latest iPod, video game, or cell phone than they are traditional "toys" . . . check out the Xmas gift lists of the kids you know . . . not many Barbies or G.I. Joes anymore . . . and the only Monopoly game they're interested in is the computer version . . .

by two days: http://www.cheapyd.com/forums/showthread.php?t=80660&page=1


They even posted the stores that are closing:

AZ:
Phoenix, Camelback

CA:
Colma, Daily City, Emeryville, Fairfield, Merced, Mira Mesa, Redding, San Francisco, Valejo

CO:
Grand Junction

FL:
Sarasota, Tampa (Dale Mabry)

GA:
Macon

IA:
Sioux City

IN:
Indianapolis, Michigan City

IL:
Arlington Heights, Bourbonnais, Chicago (8900 S. Lafayette St.), Dorchester, Lansing, Michigan City

KA:
West Kellogg

KC:
Bannister

KY:
Owensboro

MA:
Dorchester, Cambridge, Holyoke, Medford

MD:
Towson, Wheaton

MN:
Duluth, Woodbury

MO:
Bridgeton (confirmed), Florissant (not confirmed), Hillcrest

NC:
Raleigh

NJ:
Parsippany

NY:
Commack, Freeport, Levittown

OH:
Cincinnati, Columbus, Springfield

OR:
Albany

SC:
Charleston, Columbia (Two Notch Road)

TN:
Memphis, Nashville (Hickory Hollow Mall)

TX:
Brownsville, Houston (Greenspoint), Victoria

VA:
Hampton (already at 30%-50%), Tyson's Corner

WA:
Bellingham

WI:
Fond du Lac (Geoffrey's)

This is long overdue. They finally acknowledge what the retail marketplace has known for years... their earlier share of market was unsustainable, much less expandable with new stores.

I really think they would do MUCH better if they had more stuff on sale and discounted the video games more and often. I KNOW I would buy more games from them if the new games weren't $39 and $49 for months on end! At Christmas we got some really good coupons in the mail from them and got a few great deals in the electronics department. Which makes me wonder why they don't do that more often and or just lower the damn prices and sell in volume? It simply makes NO sense to me that they have all that inventory sitting there, gathering dust, when they could be selling the same stuff over and over and over again for less! Jeez...how hard is it to re-order?!

:rant: