Toys "R" Us Bankruptcy Filing causing Holiday woes for Toy Companies

Sunburnninja wrote:Im pretty sure their prices are taking part in this too, not just TRU

Nightbeat339 wrote:Makes sense. My local TRU only has TLK wave 1, a couple of Triggerhappys and Twinfernos, and some random RiD figures. I've been waiting for them to get the latest waves of Titans Return for months now.

Sunburnninja wrote:Im pretty sure their prices are taking part in this too, not just TRU

Aimless Misfire wrote:Does anybody remember the Gulf war when the gas prices went through the roof? Hasbro blamed the skyrocketing prices of oil for their price hikes. Then the price of oil came back down but Hasbro never lowered their prices.

Now they keep raising the prices & can't even get their product into stores. And we're supposed to feel sorry for them. Oh boo hoo!

Megatron Wolf wrote:

Sunburnninja wrote:Im pretty sure their prices are taking part in this too, not just TRU

Took the words right out of my mouth, any lose they have is not just because of TRU. High prices alienating people from buying and terrible distribution making people who want to buy unable to is going to lose you money. Just hope its enough to get them to rethink what they're doing otherwise the lose is just going to get bigger.

william-james88 wrote:If Toys"r"us sells Toys, what does Babies"r"us sell?

Rated X wrote:Get rid of Babies are Us and stop trying to compete with walmart in baby supplies. Stick to what put you on the map in the first place...toys. Problem solved.

Dear Valued Customer,

As you may know, in September we announced that we were beginning a formal process – known as Chapter 11 – designed to strengthen our financial position and allow us to reinvest in our business. This was a proactive and voluntary move that gives us the opportunity to reset and do the things necessary to continue to earn your business now and well into the future.

I’m writing today because I want to assure you that you can continue to shop with us with confidence, in store or online. Your local Toys"R"Us and Babies"R"Us stores are open and our team members are standing by ready to help. You should also know that we are continuing to honor our various customer programs including Registry, Endless Earnings, Geoffrey's Birthday Club, gift cards and warranties.

With the holidays just around the corner, we have a number of exciting things in store for you:

Price Match Promise¹ – If you find a toy or baby product at a lower price at one of our competitors, Toys"R"Us will match the price. Not only will we match competitor’s prices in store, we’ll donate an additional $1 to Toys for Tots every time you price match now thru 12/24, up to $1 million.

Parents Night Out² – As a parent, I found it was always tough to find time to shop when the kids weren’t looking, so this year Toys"R"Us is hosting special events on Sunday, November 12 and Thursday, November 30 from 8-10pm local time. During these very special events, customers will have access to a shopping expert, hot toy demonstrations, games and treats (think hot chocolate bar, raffles and more) plus a sweepstakes where Rewards"R"Us members have a chance to win a trip for 4 to New York City.

Layaway and Then Some³ – We will once again offer free layaway services this holiday season, waiving the usual fee. Plus, every single day from Sunday, November 5, through Saturday, December 9, Toys"R"Us will select one layaway customer who will receive a $200 TRU gift card to put towards their layaway.

Play Lab – I have seven grandkids who would love nothing more than to visit one of our stores to test drive the newest toys. On Sunday, November 1, forty-two Toys"R"Us locations across the country will open designated play spaces in their stores. Shopping list meets play time.

Play Chaser™ – Our new augmented reality gaming app is turning our toy stores into an interactive playground. It’s also connected to our much-awaited holiday catalog, The Ultimate Guide to Play. Kids can now build their favorites list using the app.


These are just a few of the exciting changes I’m most excited for this holiday. No matter how you choose to shop with us, know that you can continue to count on us for an outstanding experience. We have been in the business of bringing joy to kids for nearly seven decades, and we welcome the opportunity to serve you this holiday season and long into the future.


Sincerely,

Stuartmaximus wrote:apart from their bloody prices!

cloudballoon wrote:Here in Canada, I don't get how we can complain much about TRU's TF toy prices. Their main line TF prices are only a few cents higher than Walmart's. Like $19.99 vs. $19.97 for a TR DLX. They have similar prices for Legend, Deluxe and Voyager except Leader - TRU is $5 more expensive than WM.

But TRU runs far more sales on TF toys than Walmart & price-match. I'd say 75% of my TFs were purchased at sale prices (through sales of the week or rain checks from previous sales) at TRU.

TRU exchange policy is also better. I can exchange any figure from the same line to a different one with minimum hassle. This is not possible at Walmart.

Only thing I can complain are the shelf-warmers, but that's not *my problem* per se, as I can get TF figures I want 90% of the time at TRU... eventually. I'm just concern the losses incurred on TRU's finances about those shelf-warmers.

If we all want TRU to get through this tough time, we should find out how TRU can help themselves by improving their purchasing analysis. We (collectors & parents) can only buy so much BBB, OP & repaints before we collectively say "enough, don't need another similar BBB/OP"? Hasbro can also help out too.

The closures would form part of a deal to renegotiate debts owed by the company to its landlords - which must be agreed by 75% of its creditors.

The toy giant, which has around 3,000 workers, is looking to move away from its "big-box" out-of-town store model.

Christmas trading and gift cards are not expected to be affected.

The company is seeking approval from its board and US parent company to enter talks with the landlords.

hurricane567 wrote:My local US TRU has a 4 foot wide Transformers section. [orders Misfire from Timmy's Toy Box/Amazon.com]

Prime Nova wrote:Don't worry we have Smyths Toy Superstore & The Entertainer that do stock toys & aren't empty like tru stores.

Toys R Us UK is facing potential collapse this week with the loss of 3,200 jobs as it struggles to win the support of the state-backed Pension Protection Fund (PPF) for a planned restructure.

The PPF, the industry-funded, state-backed safety net, demanded that the troubled retailer pump about £9m into the ailing Toys R Us UK pension fund.

This is in order to gain the PPF’s support for the retailer’s planned company voluntary arrangement (CVA) procedure, which involves the closure of at least 26 loss-making stores. That deal would lead to the loss of up to 800 jobs.

[...]

Malcolm Weir, director of restructuring and insolvency at the PPF, said the body had yet to decide how to vote: ‘‘We are seeking to fully understand the current position of the company, including its future potential, position of the US parent and the reported historic financial transactions.

“The pension scheme is already underfunded and, if we were to vote in favour of the CVA, we would need actions taken that ensure the position of the pension scheme was not going to further weaken.

“Whatever the outcome of the CVA, the pension scheme members can be reassured that they remain protected.”

Toys “R” Us Inc., which filed for bankruptcy in September, is considering closing at least 100 U.S. stores in the face of weak holiday sales, according to people with knowledge of the situation.

U.S. sales have declined about 15 percent this Christmas-shopping season from a year earlier, according to people recently briefed on the matter, who asked not to be identified because the information isn’t public. The number of closed stores could reach approximately 200, one of the people said, but no decision has been made.

“Final decisions about our real estate portfolio will be done only after careful consideration about the best interests of our business,” said spokeswoman Amy von Walter. “Any speculation on that figure is premature and likely to be inaccurate.”

nemesisorion wrote:Bye bye shits r us

nemesisorion wrote:Bye bye shits r us

Kyleor wrote:I'm always amazed when companies work their way to be a big/major name in their category/field, then somehow manage to self destruct, usually with a 'we're too big to fail' type attitude from the upper management.

But this is also the same company who thinks it's OK to regularly not have anyone at any register or anywhere else in the front of the store.

Fingers crossed the restructuring includes replacing upper management with better decision makers.