Babies 'R' Us Is Closing Alongside Toys 'R' Us

21 March, 2018, 03:37 | Author: Terri Saunders
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According to Bloomberg, sources close to the situation said Amazon has taken an interest in Toys R Us' estate - which will soon be reduced to 885 vacant stores - allowing it to expand its physical presence quickly and cheaply.

Toys "R" Us Kids were left heartbroken after the brand announced last week that they would be closing their doors for good, and now parents getting ready to welcome their bundles of joy are scrambling after the announcement that Babies "R" Us is getting the ax, too.

Fung Retailing did not elaborate on its plans for the Asian arm if its US-based partner Toys R Us Inc goes under.

Strategic Marks is in discussions with toy manufacturers including Mattel (MAT) as it works to resurrect the KB Toys name, he added.

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With more than 5 billion items shipped worldwide in 2017, Amazon is expanding rapidly. Al-Futtaim is a retailer for Toys "R" Us in six countries including Bahrain, Egypt, Kuwait, Oman, Qatar and the U.A.E.

Amazon declined to comment on the reports, while Toys R Us did not immediately respond to requests for comment. Its Canadian unit is up for sale, along with its operations around the world. To that end and following a top-to-bottom assessment of our business, we have chose to close a number of our USA stores.

Amazon is reportedly going to buy the collapsed retailer's locations and turn them into its own facilities.

The integration of Amazon's online and offline strategy has helped boost sales and draw more users to its Prime monthly subscription offering, as consumers seek perks such as better delivery options and in-store deals.

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