KB Toys is coming back. Here's where and when you'll find it
- Author: Wendy Palmer Mar 22, 2018,
Mar 22, 2018, 0:55
With majority of their 3000+ stores located in malls, the teen jewelry company has been suffering from a decline in traffic in shopping malls.
Toys "R" Us announced earlier in March that it was going out of business, which would affect close to 30,000 employees, according to the Deseret News. "We're in discussions with numerous toy manufactures, as we try to find out the best way to support them and the 20% loss of the USA toy market due to the Toys R Us liquidation".
Kassoff, like several other players, is watching the collapse of Toys R Us in the USA and seeing an opportunity worth potentially well over $1 billion. In addition to toys and board games, Toys R Us sells electronics and video games, all of which will likely be heavily discounted up until the day the store closes.
Amazon.com Inc.is reportedly looking into the possibility of expanding its retail stronghold by buying up some stores from bankrupt Toys "R" Us Inc., according to a Bloomberg report. "And we on goal left some big items on our registry in hopes of getting that money back and purchasing it", Young said. A representative of Babies R Us couldn't be reached about the timing of its inventory liquidation. The retailer blamed high debt levels and intense competition with online retailers.
Finally, we increased spending to facilitate sales, including advertising and promotional dollars, along with SG&A deleverage due to the lower sales base, further impacting overall near-term profitability.