Published: Sun, June 23, 2019
Markets | By Otis Pena

Toys R Us to reopen later this year, report says

Toys R Us to reopen later this year, report says

It turns out you could be a Toys R Us kid again.

Toys "R" Us is set to return this holiday season with the opening of several stores in the USA following its closure previous year.

Though the toy retailer closed down last year, Toys R Us is expected to launch an e-commerce site and several stores in the USA later this year, according to Bloomberg.

The new Toys R Us locations will be about 10,000 square feet, almost a third of the size of the old stores that existed throughout the country before they shut down a year ago.

A spokeswoman for Tru Kids told Bloomberg that the company was not yet ready to publicly share details on its US strategy.

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However, the new stores won't be like the cavernous spaces they used to occupy. What are expected to be brand sponsored play-areas and showcases that consumers can try new products. It has since hired several industry veterans and signed a deal to bring Toys "R" Us and Babies "R" Us back to Australia through a partner. CEO Isaac Larian told Bloomberg.

It remained a retail force through the 1980s, but its star began to fade in the 1990s as big box stores such as Walmart and Target began selling more toys - at lower prices.

More than 700 American Toys "R" USA stores closed in 2018 while 900 stores remained open in Europe, Asia, and India.

Tru Kids will be headquartered in Parsippany, New Jersey, about a 20-minute drive from Wayne, New Jersey, where Toys R Us was previously based.

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