FILL UP THE VOID Game theory
As ailing Toys ‘R’ Us shrinks, rivals look to ...
As Toys ‘R’ Us continues to shrink, shoppers will find bigger toy selections at some unlikely stores, The Post has learned.
A growing number of retailers — including Best Buy, Kohl’s and JCPenney — have been quietly ramping up their toy offerings, hoping to capitalize on the troubles of one of the largest toy sellers in the US, industry insiders tell The Post.
After recently announcing plans to close 180 stores, the embattled Toys ‘R’ Us is considering closing another 200 stores, according to a report.
That second round of closings would leave the Wayne, NJ, company with about 400 stores — down from 800 before it filed for Chapter 11 in September.
Walmart, which is the largest toy seller in the country, and Target are expected to pick up most of the business Toys ‘R’ Us surrenders when it closes its stores — but other chains are looking to grab a piece of the action.
“Retailers are looking at this as an opportunity,” said Jim Silver, president of TTPM, a toy review Web site. “If stores are closing, their market share will go somewhere else.”
As of last year, Toys ‘R’ Us accounted for about 12 percent of the $27 billion in US toy sales. But that slice is shrinking. “Operational missteps” during the last holiday season exacerbated Toys ‘R’ Us’ predicament.
The buzz at Toy Fair this week, according to Silver, is that Kohl’s, JCPenney, Best Buy and others are talking to manufacturers about increasing their toy inventory this year.
Best Buy already began stocking more items over the holiday season beyond its traditional tech-related gadgets, said a spokeswoman, adding that many of the additional items continue to be sold online.
The company is buying more toys in general, she said. Best Buy now carries low-tech board games like Pie Face and Sorry! as well as “Star Wars” figures, Legos, Barbies and DC Super Hero Girls dolls.
“You’ll see more toys at Best Buy,” said the spokeswoman, adding that many of the additions “have ties to things like video games that we had already been selling.”
Representatives for Kohl’s and JCPenney did not return calls seeking comment.
Earlier this month, Buy Buy Baby took direct aim at customers of Babies ‘R’ Us (launched in 1996 by Toys ‘R’ Us), which is also closing stores. Buy Buy Baby is running full page newspaper ads touting: “While other baby retailers are closing stores Buy Buy Baby is here to stay … so you can feel confident every step of the way.”
Some overseas retailers are also eyeing the US market.
The oldest toy retailer in the UK, London’s Hamleys, is considering opening its first store in New York City, according to toy consultant Richard Gottlieb.
“I would not be surprised if some other European toy retailers come here and take advantage of the void left by Toys ‘R’ Us and even FAO Schwarz,” Gottlieb said.
FAO Schwarz closed its iconic store in the GMbuilding in 2015 and currently has no stand-alone retail presence in the US — although a store is planned for the fall.