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>>

  • Chicago prosecutor recuses herself from Jussie Smollett case

    Chicago prosecutor recuses herself from Jussie Smollett case

    Wednesday, February 20 2019 11:13 AM EST2019-02-20 16:13:37 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. Chicago police said Sunday, Feb. 17, 2019, they're still seeking a follow-up interview with Sm...(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. Chicago police said Sunday, Feb. 17, 2019, they're still seeking a follow-up interview with Sm...
    (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. Chicago police said Sunday, Feb. 17, 2019, they're still seeking a follow-up interview with Sm...(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. Chicago police said Sunday, Feb. 17, 2019, they're still seeking a follow-up interview with Sm...
    Chicago police have investigated but dismissed a tip that on the night "Empire" actor Jussie Smollett reported being attacked by two masked men he was in an elevator of his apartment building with two brothers...More >>
    Chicago police have investigated but dismissed a tip that on the night "Empire" actor Jussie Smollett reported being attacked by two masked men he was in an elevator of his apartment building with two brothers questioned in the probe.More >>
  • Legal hurdles would look familiar in any new R. Kelly case

    Legal hurdles would look familiar in any new R. Kelly case

    Wednesday, February 20 2019 11:04 AM EST2019-02-20 16:04:27 GMT
    (AP Photo/M. Spencer Green, File). FILE - This June 13, 2008 file photo shows R&B singer R. Kelly, arriving at 3the Cook County Criminal Court Building in Chicago. Attorney Michael Avenatti says he has new video evidence of singer R. Kelly having s...(AP Photo/M. Spencer Green, File). FILE - This June 13, 2008 file photo shows R&B singer R. Kelly, arriving at 3the Cook County Criminal Court Building in Chicago. Attorney Michael Avenatti says he has new video evidence of singer R. Kelly having s...
    (AP Photo/M. Spencer Green, File). FILE - This June 13, 2008 file photo shows R&B singer R. Kelly, arriving at 3the Cook County Criminal Court Building in Chicago. Attorney Michael Avenatti says he has new video evidence of singer R. Kelly having s...(AP Photo/M. Spencer Green, File). FILE - This June 13, 2008 file photo shows R&B singer R. Kelly, arriving at 3the Cook County Criminal Court Building in Chicago. Attorney Michael Avenatti says he has new video evidence of singer R. Kelly having s...
    Prosecutors will have to clear a series of legal hurdles if they intend to charge R. Kelly and convict him, even if video evidence is available.More >>
    Prosecutors will have to clear a series of legal hurdles if they intend to charge R. Kelly and convict him, even if video evidence is available.More >>
  • N. Carolina elections board calls challenged House candidate

    N. Carolina elections board calls challenged House candidate

    Wednesday, February 20 2019 10:45 AM EST2019-02-20 15:45:38 GMT
    (Travis Long/The News & Observer via AP, Pool). Mark Harris, Republican candidate in North Carolina's 9th congressional race, listens to testimony during a public evidentiary hearing on the 9th congressional district voting irregularities investiga...(Travis Long/The News & Observer via AP, Pool). Mark Harris, Republican candidate in North Carolina's 9th congressional race, listens to testimony during a public evidentiary hearing on the 9th congressional district voting irregularities investiga...
    (Travis Long/The News & Observer via AP, Pool). Mark Harris, Republican candidate in North Carolina's 9th congressional race, listens to testimony during a public evidentiary hearing on the 9th congressional district voting irregularities investiga...(Travis Long/The News & Observer via AP, Pool). Mark Harris, Republican candidate in North Carolina's 9th congressional race, listens to testimony during a public evidentiary hearing on the 9th congressional district voting irregularities investiga...
    The apparent Republican winner of the country's last undecided congressional election is expected to explain why he stuck with a North Carolina political operative with a shady track record that even the GOP...More >>
    The apparent Republican winner of the country's last undecided congressional election is expected to explain why he stuck with a North Carolina political operative with a shady track record that even the GOP candidate thought about protesting in the past.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