The struggling retail outlet Toys R’ Us is still looking for ways to cut its cost and try to return to more profitable days. It is still trying to restructure itself and get out of bankruptcy protection. Part of their plan is to close approximately one-hundred and eighty of its lower producing stores throughout the country. That is roughly twenty percent of the entire number of stores that it has in the United States. Doing so may help to cut some of the fat off of the company, but will it be enough to really turn things around?
Management has come out and said that the store closures will take place between early February and mid-April. Those stores are spread out throughout the country, so some will be closing sooner than others. If one is closing near you, it might be possible to get some going out of business sales.
They are closing both Toys R’ Us and Babies R’ Us locations depending upon the area you are in. They are also trying to work to make some changes to the customer loyalty program to make it more attractive. In addition, they want to make the online shopping experience easier and better for consumers.
This company has taken shots on all sides as Wal-Mart, Target, and of course Amazon continue to eat into their market share. Customers are simply not going to specialty stores as much as they used to. They are seen as too one-dimensional, and this may cause them to completely collapse in the coming years.
It was in late 2017 that the company said it would be filing for bankruptcy protection. At the same time, they did not plan to close any of their stores around the country. In fact, they wanted to open more (but smaller) locations throughout the nation. That plan has had to change through as Toys R’ Us faced the very real situation of not having the kind of funding to really keep all of those places open. Instead, a weaker-than-expected holiday season has put them in a spot where they have had to redo their entire strategy.
You are going to see store closing throughout the country coming up very soon. Those who have nostalgia for this company might want to get into one of their stores very soon. Better yet, they might want to actually buy something there! That is the only way this company can turn it around.