Global Retail Alliance
info@gra.world
  • Login
  • Register
  • Newsletter
  • Virtual Library
  • Choose your country
    • Australia
    • Brazil
    • China
    • Poland
    • Latin America
    • Middle East
GRAGRA
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact

Retail News

  • Home
  • Retail News
  • Toys R Us sells iconic FAO Schwarz brand

Toys R Us sells iconic FAO Schwarz brand

  • Categories Retail News
  • Date October 5, 2016
  • Comments 0 comment

ThreeSixty Group, a company that designs and distributes toys and other consumer products, said Tuesday that it acquired the 154-year-old toy retailer, which had been owned by Toys R Us since 2009.

Terms of the deal were not disclosed. 

“We are investing heavily in this brand and believe there is a tremendous opportunity to build upon the heritage experience and nostalgia of FAO Schwarz,” Kirk McLean, co-founder of ThreeSixty Group, said in a news release announcing the deal.

The new FAO Schwarz toy collection will be designed by ThreeSixty. It will “draw upon the one-of-a-kind products and legendary in-store experience at the FAO Schwarz flagship store in New York City,” the company said.

The line will be sold at select retailers starting fall 2017; until then, the brand’s merchandise will be available online and at Toys R Us stores.

Toys R Us is in the midst of implementing a turnaround strategy that includes cutting costs, closing stores and making its existing shops more fun and interactive for kids and their parents. Its sales have been pressured by low-price competition from Amazon to Wal-Mart, and its outstanding debt has made it difficult for the company to invest in the business.

Yet under the leadership of CEO Dave Brandon, who joined the company last summer, the specialty shop’s sales and profitability have improved. In the quarter ended July 30, Toys R Us’ same-store sales increased 0.5 percent, and its operating income improved by $3 million, to $18 million.

Still, its overall sales declined, largely due to the closing of its expensive, but highly trafficked, FAO Schwarz and Times Square flagships. Toys R Us ended the second quarter with $1 billion in total liquidity and $5.2 billion in long-term debt.

“While we recognize there is nostalgia and history associated with this brand, the agreement allows us to focus on the aspects of our business which will fuel our long-term growth,” Toys R Us spokeswoman Elizabeth Gaerlan said.

www.cnbc.com

  • Share:
gsiino

Previous post

Furla targets Asia with latest travel retail openings
October 5, 2016

Next post

Retail Customer Experience 2016 Top 100
October 5, 2016

You may also like

IMG_4093
Aldi targets 20 new store locations across the UK
18 June, 2025
lithuania
Retail technology innovation of the week: AI driven age estimation tech goes live at IKI Lithuania stores
13 June, 2025
carrefou oficial
Carrefour first major European grocer to adopt VusionGroup EdgeSense tech, following Walmart roll-out in US
12 June, 2025

Leave A Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search News:

News category:

News Archive:

Last News:

Aldi targets 20 new store locations across the UK
18Jun2025
Retail technology innovation of the week: AI driven age estimation tech goes live at IKI Lithuania stores
13Jun2025
Carrefour first major European grocer to adopt VusionGroup EdgeSense tech, following Walmart roll-out in US
12Jun2025
BAO BAO ISSEY MIYAKE Opens Its First U.S. Flagship Store in Soho, New York
12Jun2025
Kith & Wilson are Coming to London in Boutique Style
12Jun2025

© 2022 Global Retail Alliance | info@gra.world | Privacy Policy