Amazon Is Considering Buying Some Empty Toys 'R' Us Stores
08:01, Mar 21, 2018
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Amazon is reportedly considering the possibility of acquiring some of Toys "R" Us' soon-to-be-closed store locations in the U.S. For Toys R Us gift card holders, they now have 30 days to use their cards.
The news comes as Amazon seems to be expanding its brick-and-mortar presence.
Read the Bloomberg story here. The Toys "R" Us deal would follow Amazon's other acquisitions like the Whole Foods Market Inc that would help it consolidate its position in the offline market.
A bigger network of stores would put inventory closer to where shoppers live, potentially enabling quick delivery to e-commerce customers.
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In addition, NPD data shows that 70% of sales through Toys "R" Us were for an occasion like a birthday (23%) or Christmas (34%), and that almost 70% of toys purchased at Toys "R" Us were chosen because kids asked for that specific product or brand.
If you own a Toys'R' Us credit card you are still liable for that debt when the store closes; as of now there is no word on when those cards will become inactive but we will keep you posted. Toys "R" Us has 700 U.S. stores.
"We have a $14-$15m payment due that hasn't been paid", Isaac Larian, chief executive of Bratz dolls maker MGA Entertainment, said.
The Australian operations are now being run by local MD Dianne Guerreiro, who less than six months ago was charting expansion for the business, outlining a plan to open up to 20 stores in the coming years.
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The retailer will use some 18,000 personal shoppers to fulfill the orders and delivery services to get the items to the customers. Unlike Amazon Fresh , however, there's no subscription fee involved for Walmart's online delivery service.
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