Toys R Us plans second act by holiday season - WFMJ.com News weather sports for Youngstown-Warren Ohio

Toys R Us plans second act by holiday season

Posted: Updated:
(AP Photo/Daniel Hulshizer, File). FILE- In this July 30, 1996, file photo, a woman pushes a shopping cart over a graphic of Toys R Us mascot Geoffrey the giraffe at the Toys R Us store in Raritan, N.J. Richard Barry, a former Toys R Us executive and n... (AP Photo/Daniel Hulshizer, File). FILE- In this July 30, 1996, file photo, a woman pushes a shopping cart over a graphic of Toys R Us mascot Geoffrey the giraffe at the Toys R Us store in Raritan, N.J. Richard Barry, a former Toys R Us executive and n...
  • NationalMore>>

  • Syracuse coach Boeheim strikes, kills pedestrian on highway

    Syracuse coach Boeheim strikes, kills pedestrian on highway

    Friday, February 22 2019 6:45 AM EST2019-02-22 11:45:24 GMT
    (AP Photo/Nick Lisi). Syracuse head coach Jim Boeheim, left, talks to an official about a call during the second half of an NCAA college basketball game against Louisville in Syracuse, N.Y., Wednesday, Feb. 20, 2019. Syracuse won 69-49.(AP Photo/Nick Lisi). Syracuse head coach Jim Boeheim, left, talks to an official about a call during the second half of an NCAA college basketball game against Louisville in Syracuse, N.Y., Wednesday, Feb. 20, 2019. Syracuse won 69-49.
    (AP Photo/Nick Lisi). Syracuse head coach Jim Boeheim, left, talks to an official about a call during the second half of an NCAA college basketball game against Louisville in Syracuse, N.Y., Wednesday, Feb. 20, 2019. Syracuse won 69-49.(AP Photo/Nick Lisi). Syracuse head coach Jim Boeheim, left, talks to an official about a call during the second half of an NCAA college basketball game against Louisville in Syracuse, N.Y., Wednesday, Feb. 20, 2019. Syracuse won 69-49.
    Police say Syracuse men's basketball coach Jim Boeheim struck and killed a 51-year-old man walking outside his vehicle on a highway.More >>
    Police say Syracuse men's basketball coach Jim Boeheim struck and killed a 51-year-old man walking outside his vehicle on a highway.More >>
  • Judge grants citizenship to twin son of gay couple

    Judge grants citizenship to twin son of gay couple

    Friday, February 22 2019 6:44 AM EST2019-02-22 11:44:42 GMT
    A federal judge in California has ruled that a twin son of a gay couple has been an American citizen since birth, handing a defeat to the U.S. government, which had only granted the status to his brother.More >>
    A federal judge in California has ruled that a twin son of a gay couple has been an American citizen since birth, handing a defeat to the U.S. government, which had only granted the status to his brother.More >>
  • Case against Jussie Smollett resembles detailed movie script

    Case against Jussie Smollett resembles detailed movie script

    Friday, February 22 2019 6:44 AM EST2019-02-22 11:44:30 GMT
    (Richard Shotwell/Invision/AP, File). FILE - In this May 20, 2016 file photo, actor and singer Jussie Smollett attends the "Empire" FYC Event in Los Angeles. A police official says "Empire" actor is now considered a suspect "for filing a false police r...(Richard Shotwell/Invision/AP, File). FILE - In this May 20, 2016 file photo, actor and singer Jussie Smollett attends the "Empire" FYC Event in Los Angeles. A police official says "Empire" actor is now considered a suspect "for filing a false police r...
    (Richard Shotwell/Invision/AP, File). FILE - In this May 20, 2016 file photo, actor and singer Jussie Smollett attends the "Empire" FYC Event in Los Angeles. A police official says "Empire" actor is now considered a suspect "for filing a false police r...(Richard Shotwell/Invision/AP, File). FILE - In this May 20, 2016 file photo, actor and singer Jussie Smollett attends the "Empire" FYC Event in Los Angeles. A police official says "Empire" actor is now considered a suspect "for filing a false police r...
    'Empire' actor Jussie Smollett goes from victim to accused felon in less than a month.More >>
    'Empire' actor Jussie Smollett goes from victim to accused felon in less than a month.More >>

By ANNE D'INNOCENZIO
AP Retail Writer

NEW YORK (AP) - Toys R Us fans in the U.S. should see the iconic brand re-emerge in some form by this holiday season.

Richard Barry, a former Toys R Us executive and now CEO of the new company called Tru Kids Brands, told The Associated Press he and his team are still working on the details, but they're exploring various options including freestanding stores and shops within existing stores. He says that e-commerce will play a key role.

Toys R Us, buckling under competition from Amazon and several billions of dollars of debt, filed for Chapter 11 reorganization in September 2017 and then liquidated its businesses last year in the U.S. as well as several other regions including the United Kingdom.

In October, a group of investors won an auction for Toys R Us assets, believing they would do better by potentially reviving the toy chain, rather than selling it off for parts. Starting Jan. 20, Barry and several other former Toys R Us executives founded Tru Kids and are now managing the Toys R Us, Babies R Us and Geoffrey brands. Toys R Us generated $3 billion in global retail sales in 2018. Tru Kids estimates that 40 percent to 50 percent of Toys R Us market share is still up for grabs despite many retailers like Walmart and Target expanding their toy aisles.

"These brands are beloved by customers," said Barry. He noted that the company will focus on experiences in the physical stores, which could be about 10,000 square feet. The original Toys R Us stores were roughly about 40,000 square feet.

Barry said he and his team have been reaching out to toy makers and have received strong support. But he acknowledged that many had been burned by the Toys R Us liquidation.

Tru Kids, based in Parsippany, New Jersey, about a 20 minute drive from Wayne, New Jersey, where Toys R Us was based, will work with licensing partners to open 70 stores this year in Asia, India and Europe. Outside the U.S., Toys R Us continues to operate about 800 stores.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly
All content © Copyright 2000 - 2019 WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms