Keywords: Toys "R" Us' mascot
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Toys "R" Us is a toy store chain headquartered in Wayne, New Jersey, United States.[2] The chain also has locations in Europe, Asia, Oceania, Africa, and Canada. The company currently operates 840 stores in the United States and 716 stores in 34 other countries, with some of them under franchises or licenses. The flagship store in New York City's Times Square is the largest toy store in the world,[3] featuring a colorful Ferris wheel. It is the largest toy-centered retailer and the second largest overall toy retailer in the United States.
The original Children's Supermart location is now Madam's Organ Blues Bar on 18th Street NW in Adams Morgan
Charles Lazarus initially started Children's Supermart, which would later evolve into the modern day Toys "R" Us in Washington, DC during the post-war baby boom era in 1948 as a baby furniture retailer. Its first location was at 2461 18th St, NW, where the nightclub, Madam's Organ Blues Bar is currently located. Lazarus began receiving requests from customers for baby toys. After adding baby toys, he got requests for more mature toys. Eventually, the focus of the store changed in 1957 and Toys "R" Us as it is known today was born in Rockville, Maryland. Toys "R" Us was acquired in 1966 by Interstate Stores, owner of the White Front and Topps Department Stores as well as Children's Bargain Town USA, a sister toy store chain to Toys "R" Us in the American Midwest which would later be rebranded as part of the Toys "R" Us chain. The original Toys "R" Us store design in the 1970s and 1980s consisted of vertical rainbow stripes and a brown roof with a front entrance and side exit.[4][5] Some brown roof locations still exist, although some were painted different colors or renovated in recent years.
In her written opinion, New Jersey Superior Court Judge Margaret Mary McVeigh took a rather dim view of the trial testimony of some Amazon executives, including that of the company’s billionaire founder Jeff Bezos, saying she had "no doubt his knowledge and understanding (of the Toys "R" Us agreement) went much deeper than revealed." When pushed on the witness stand, "certain information 'just came back to him'" she said in the ruling, while another of Bezos’ explanations was referred to as "rather childlike."[8]
Toys "R" Us, after winning the right to end its contract with Amazon.com, forged a partnership with GSI Commerce, a company specializing in running e-commerce sites.[9] By the middle of 2006, Amazon's stock had taken serious 15% losses, one consideration being the $50 million per year payment lost from Toys "R" Us. Amazon announced the loss of the case late in the quarter to its stock owners.[10][11]
Beginning in June 2010, Toys "R" Us began opening more Express locations nationwide, with 600 stores eventually opening. In addition to those 600 stores, four Express locations were converted to Toys "R" Us Outlet stores.[15]
An exterior of a typical second generation Toys "R" Us store in Mount Berry, Georgia, United States.
Toys "R" Us, Inc. also owns other chains/businesses:
The Favorite Logo was seen earlier in the first decade of the 21st century on the Nickelodeon game show, Double Dare 2000; and on new "Concept 2000" Toys "R" Us stores or older stores that were converted to "Concept 2000" stores. The "R Us" name was derived as a pun on the founder's first name, Lazarus. The "R Us" name has been imitated by many other businesses. The logo was once again changed in 2006 as a favorite logo with alternating sized characters and a star in the middle of the reverse R. The letter R was changed from yellow to blue (though the star in the favorite logo is sometimes yellow with the R in blue). Since May 2008, the UK stores of Toys 'R' Us now use the new logo. Newly refurbished stores now display the revised logo, as does the UK website and all media publications. (Note, the Teesside Park store still carries the favorite logo)
Geoffrey in his current design.
In the 1960s, an anthropomorphic giraffe cartoon character was introduced as Toys "R" Us' mascot. His name, Geoffrey the Giraffe, followed in the 1970s, after a "Name the Mascot"–type contest. In 1973, Geoffrey was given a family with the addition of his wife Gigi. However, over time and with different marketing campaigns, it has been unclear as to whether Gigi is Geoffrey's wife or sister. Also in 1973, Geoffrey's daughter, Baby Gee, was introduced. In 1979, his son Junior was added. Geoffrey was then re-introduced in 2001, after being given a full makeover. He then appeared not as a cartoon character, but rather as a real-life giraffe who talks; an animatronic version of Geoffrey the Giraffe (created by Stan Winston Studios) was voiced by Jim Hanks, brother of actor Tom Hanks, in commercials for radio and television. The character's present appearance is again that of a cartoon.
On September 14, 2009, it was learned that Tweet, a real giraffe also used in the early 2000s commercials, died on Friday, September 11, 2009, after filming his latest movie at the Franklin Park Zoo. The 18-year-old giraffe apparently collapsed while feeding and in the care of his trainer, and had just completed shooting his part in the movie, Kevin James' The Zookeeper.[18]
A parody of this character appeared in a parody of a Toys R Us commercial on an episode of MAD. The parody (A mean-spirited llamma with spots in the shape of dollar signs) advertised a store called "Toys 4 Brats".
The Fair Work Ombudsman discontinued its legal campaign in late January 2011 after the toy retailer signed an agreement pledging to reform its workplace practices.[19]
Toys "R" Us Japan
Toys "R" Us France
Toys "R" Us Japan
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| Type | Privately Held Company |
|---|---|
| Industry | Retail |
| Founded | 1957 In Rockville, Maryland, United States |
| Headquarters | Wayne, New Jersey, U.S. |
| Key people | Gerald L. Storch Chairman and CEO |
| Products | Children's toys |
| Revenue | $13.646 billion USD (2007)[1] |
| Owner(s) | Kohlberg Kravis Roberts Bain Capital Partners LLC Vornado Realty Trust |
| Employees | 70,000 |
| Website | www.toysrus.com www.toysrusinc.com |
History
The early years
The buyout
In an effort to improve its company, the Board of Directors installed John Eyler, formerly of FAO Schwarz. Eyler launched an unsuccessful, and very expensive plan to remodel and re-launch the chain. Blaming market pressures (primarily competition from Wal-Mart and Target), Toys "R" Us considered splitting its toys and baby businesses. On July 21, 2005, a consortium of Bain Capital Partners LLC, Kohlberg Kravis Roberts & Co. (KKR), and Vornado Realty Trust invested $1.3 billion in new equity to complete the $6.6 billion leveraged buyout of the toy giant. Public stock closed for the last time at $26.74, just pennies from the 68-week high, but far short of its all time high of almost $45 in fourth-quarter 1993, and its five-year high of $31 in 2Q 2001. Toys "R" Us is now a privately owned entity. However, the company still files with the Securities and Exchange Commission as required by its debt agreements.[6] On May 28, 2010 Toys "R" Us filed with the SEC to raise up to $800 million in an initial public offering.[7]
Amazon.com lawsuit
In early 2006, Toys "R" Us won a major battle against Amazon.com after years of bitter battles over their original 10 year contract made at the height of the dotcom boom at the turn of the century. The battle focused on exclusivity rights as viewed from both companies' perspectives. The judge in the matter believed Amazon's top officials were not completely forthcoming in their testimony during the trial:In her written opinion, New Jersey Superior Court Judge Margaret Mary McVeigh took a rather dim view of the trial testimony of some Amazon executives, including that of the company’s billionaire founder Jeff Bezos, saying she had "no doubt his knowledge and understanding (of the Toys "R" Us agreement) went much deeper than revealed." When pushed on the witness stand, "certain information 'just came back to him'" she said in the ruling, while another of Bezos’ explanations was referred to as "rather childlike."[8]
Toys "R" Us, after winning the right to end its contract with Amazon.com, forged a partnership with GSI Commerce, a company specializing in running e-commerce sites.[9] By the middle of 2006, Amazon's stock had taken serious 15% losses, one consideration being the $50 million per year payment lost from Toys "R" Us. Amazon announced the loss of the case late in the quarter to its stock owners.[10][11]
Closure of 87 stores
On January 9, 2006, Toys "R" Us announced that 87 stores in the United States would close that year, most closing within the spring. Twelve more stores were to be converted to the "Babies "R" Us" format. Approximately 5,000 jobs were eliminated as a result of the closures.[12]Toys R Us Express
For the 2009 holiday shopping season, Toys "R" Us decided to try a smaller store concept to attract customers. To that effect, 90 "Holiday Express" stores across the United States and Canada were opened during the 2009 Christmas shopping season.[13] The Holiday Express stores are much smaller than regular Toys "R" Us locations, often located in malls, and offer a more limited selection of merchandise than would be available at a normal sized standalone Toys "R" Us store. Most, if not all, of these 90 stores were opened in vacant shopping center and mall spaces that had been vacated by various store chains closing their doors during the recession (including KB Toys locations, several of which were taken over by Toys "R" Us).[13] Toys "R" Us' original plan was to keep the Holiday Express stores open until early January 2010 and close them shortly thereafter, but the success of many of them prompted the company to reconsider and several were kept open.[14] These stores are now branded "Toys "R" Us Express".Beginning in June 2010, Toys "R" Us began opening more Express locations nationwide, with 600 stores eventually opening. In addition to those 600 stores, four Express locations were converted to Toys "R" Us Outlet stores.[15]
Affiliated chains
- KB Toys - The KB Toys brand and related copyrights were auctioned off to Toys R Us on September 4, 2009 for $2.1 Million. Plans for KB Toys remains unknown.
- FAO Schwarz - Upscale toy retailer headquartered in New York City. The store and its Las Vegas satellite were purchased by the company on May 28, 2009.[16]
- Kids "R" Us - A store chain no longer operating independently, Kids "R" Us deals in children's clothing. Kids "R" Us stores now are co-branded with some Toys "R" Us stores, located inside most Toys "R" Us locations. Kids "R" Us is also the brand name label of kids' clothing found at the Geoffrey Stores.
- Babies "R" Us - Superstores specializing in clothing, furniture, toys and other accessories for babies.
- Scoops "R" Us - An ice cream restaurant in the flagship Times Square store.[17]
- Bikes "R" Us - Bike store inside Toys "R" Us (UK only)
- Geoffrey's Toys "R" Us/Geoffrey - Retailtainment stores named for Toys "R" Us' mascot Geoffrey the Giraffe, offering toys, juvenile merchandise, and children's apparel all in one location. Other features include a "Studio G" activity center. Mostly found in the American Midwest, but are also found in Texas, Mississippi, and North Carolina. The first store under the "Geoffrey" banner opened in Fond du Lac, Wisconsin, but eventually closed because of poor sales figures. Two other remaining Geoffrey's Toys "R" Us stores in Wisconsin still exist in nearby markets, such as the Northeast Wisconsin market. Other locations include Louisville, Kentucky, San Antonio and Austin, Texas. Each location had a playground at the front of the store. These stores are currently in the process of being reverted back to regular Toys "R" Us stores as of spring 2008, although the name still remains.
- Toys "R" Us Toy Box (introduced in 2003) - This version of Toys "R" Us is found in Albertsons, Giant, Jewel-Osco supermarkets, and stores in Hong Kong, Philippines and Singapore.
- Toys "R" Us KidsWorld - A toy superstore format introduced in 1996. Stores were built in Elizabeth, New Jersey (which was remodeled into a Toys "R" US/Babies "R" Us Superstore), and Fairfax, Virginia (which was remodelled in 2006 into a standard Toys "R" Us).
- Toys "R" Us/Kids "R" Us - co-branded stores found in markets not served by the Geoffrey Stores.
- Toys "R" Us Express - mini store version of Toys "R" Us, found inside Asian stores. (Hong Kong, Macau, Malaysia, Taiwan (Republic of China), Wollongong, Australia and other) Also found in some malls in United States (Ashland Town Center, Kentucky; Horizon Plaza Mall, Bronx, NY [Going out of business]; Great Lakes Crossing, Michigan; Westland Mall, Michigan; Newburgh Mall, New York; Wenatchee Valley Mall, Washington) or a shopping plaza like in Granada Hills, California.
- Imaginarium - Initially, Imaginarium was an independent chain of kids toy stores with a focus on learning toys, with most of its stores located in malls. Toys "R" Us bought the chain in 1999. Its mascots were Cosmo (a purple puppy) and Professor Fun. When most of the Toys "R" Us stores were remodeled, their redesigned layouts include an Imaginarium department. Imaginarium still exists as an independent store in Portugal.
- Studio Alice- Found inside Toys "R" Us in Japan.
- eToys.com - ecommerce site acquired February 12, 2009 from bankrupt The Parent Company.
- BabyUniverse.com - another ecommerce site acquired February 12, 2009 from bankrupt The Parent Company.
- ePregnancy.com - parenting resource website acquired February 12, 2009 from bankrupt The Parent Company.
Logos
The 1983-2000 logo
| 
The 2000-2007 logo
| 
The 2007-present logo
| 
The 1996-2007 Babies "R" Us Logo
|
Mascot
On September 14, 2009, it was learned that Tweet, a real giraffe also used in the early 2000s commercials, died on Friday, September 11, 2009, after filming his latest movie at the Franklin Park Zoo. The 18-year-old giraffe apparently collapsed while feeding and in the care of his trainer, and had just completed shooting his part in the movie, Kevin James' The Zookeeper.[18]
A parody of this character appeared in a parody of a Toys R Us commercial on an episode of MAD. The parody (A mean-spirited llamma with spots in the shape of dollar signs) advertised a store called "Toys 4 Brats".
Pay dispute
Between 2007 and 2009 the Australian Toys "R" Us stores underpaid more than 1000 workers, including many teenagers, by almost $1 million.The Fair Work Ombudsman discontinued its legal campaign in late January 2011 after the toy retailer signed an agreement pledging to reform its workplace practices.[19]
International locations
Toys "R" Us, International is a separate division which operates the toy stores outside of the United States. Toys "R" Us, International opened its first stores in 1980 in Hong Kong. Today, Toys "R" Us International operates, licenses or franchises approximately 716 toy stores in 34 countries outside the United States.[20]
Australia, established 1993, 35 stores and 3 Babies "R" Us stores
Austria, 14 stores
Bahrain, 1 store
Brunei, established August 2000, 2 stores
Canada, established 1984, 71 stores
China, established December 2006, 14 stores: 11 Toys "R" Us Main stores and 2 Toys "R" Us Express stores plus 1 Toy Box
Denmark, established 1995, 13 stores
Egypt, 4 stores
Finland, established 2006, 4 stores
France, established 1987, 39 Stores
Germany, established 1987, 57 Stores
Hong Kong, established 1980, 9 Main stores and 2 Toys "R" Us Express stores
Iceland, established October 2007, 3 stores
Ireland, established 2010, 1 store in Dublin
Israel, established 1995, 27 stores
Japan, established 1989, 167 stores and 20 Babies "R" Us stores
Kuwait, established July 5, 2009, 1 store[21]
Macau, 1 Toys "R" Us Express store
Malaysia, 20 stores: 6 Main stores, 7 Toys "R" Us Express stores and 5 Toy Box
Mauritius, 2 stores
Norway, 8 stores
Oman, 1 store
Philippines, established July 1, 2006, 36 stores: 8 Main stores (including former Kidz Station branches acquired in December 2010) and 3 Toys "R" Us Express stores plus 25 Toy Box
Portugal, 8 stores
Qatar, 1 store
Saudi Arabia, established 1996, 10 stores
Singapore, established 1984, 6 stores
South Africa, established 1987, 24 stores
South Korea, established 2007
Spain, 45 stores
Sweden, established 1994, 14 stores
Switzerland, 4 Stores
Republic of China, Taiwan, 16 stores: 8 Main stores plus 8 Toys "R" Us Express stores
Thailand, established 2005, 9 stores: 3 Main stores + 6 Toys "R" Us Express / Toybox stores
United Arab Emirates, established 1995, 6 stores
United Kingdom, established 1985, 75 stores and 3 Babies "R" Us stores
United States, established 1948 as Children's Supermart, changed its name to Toys "R" Us in 1957, and in the early 1970s, Interstate Stores, Inc. (now known as Toys "R" Us, Inc.) bought out Children's Bargain Town USA, a similar midwest toy store chain.
Countries where Toys R Us is no longer active
Italy (1996-2000s)
Guatemala (90's closure)
Netherlands, established 1993, 17 stores. All stores continued on March 3, 2009 as Toys XL. Toys "R" Us tried to sell its stores in 1997, but encountered objections from the European Competition regulator.
Turkey, the stores in Turkey are now changed to Toyiki, because the firm that the Toys"R"Us brand was franchised to wanted to create its own brand.
See also
References
- ^ "Fortune 500 2008: Fortune 1000 101-200". CNN. http://money.cnn.com/magazines/fortune/fortune500/2008/full_list/101_200.html.
- ^ "Contact Us." Toys "R" Us Corporate. Retrieved on September 22, 2010.
- ^ Times Square - Toys R Us Store - "The World's Largest Toy Store!"
- ^ "Toys "R" Us, Inc. - Company Profile, Information, Business Description, History, Background Information on Toys "R" Us, Inc". Referenceforbusiness.com. http://www.referenceforbusiness.com/history2/2/Toys-R-Us-Inc.html. Retrieved 2011-01-10.
- ^ "Pleasant Family Shopping: Bargain Town is now Toys "R" Us!". Pleasantfamilyshopping.blogspot.com. 2008-06-15. http://pleasantfamilyshopping.blogspot.com/2008/06/bargain-town-is-now-toys-r-us.html. Retrieved 2011-01-10.
- ^ "Investor Relations - Toys"R"Us Corporate". Phx.corporate-ir.net. http://phx.corporate-ir.net/phoenix.zhtml?c=120622&p=irol-sec. Retrieved 2011-01-10.
- ^ "IPO News: Toys R Us announces plans for $800 million IPO (by Renaissance Capital)". Renaissancecapital.com. http://www.renaissancecapital.com/ipohome/news/Toys-R-Us-announces-plans-for-$800-million-IPO-8106.html. Retrieved 2011-01-10.
- ^ Wolk, Martin (2006-03-02). "Toys 'R' Us wins suit against Amazon.com". MSNBC — U.S. Business. http://www.msnbc.msn.com/id/11641703/. Retrieved 2007-01-15.
- ^ E-Commerce Times: Toys 'R' Us wins right to end amazon partnership., March 3, 2006
- ^ Monica Soto Ouchi (2006-06-03). "Amazon waited to report impact of Toys R Us split". The Seattle Times. http://seattletimes.nwsource.com/html/businesstechnology/2003036496_amazon03.html. Retrieved 2007-01-15.
- ^ Laurie J. Flynn (2006-06-26). "Costs soar at Amazon; stock dives". International Herald Tribune. http://www.iht.com/articles/2006/07/26/business/amazoncom.php. Retrieved 2007-01-15.
- ^ "Toys 'R' Us to shutter 87 stores geffory the girraf had a heart attak". Pittsburgh Business Times. 2006-01-11. http://pittsburgh.bizjournals.com/pittsburgh/stories/2006/01/09/daily18.html. Retrieved 2007-01-15.
- ^ a b Toys R Us goes on the offensive northjersey.com 15 September 2009. Retrieved 31 March 2010.
- ^ Toys R Us will keep selected Holiday Express stores open northjersey.com 30 December 2009. Retrieved 31 March 2010.
- ^ "TOYS“R”US® ANNOUNCES PLANS TO OPEN 600 TOYS“R”US EXPRESS STORES IN MALLS AND SHOPPING CENTERS, DOUBLING THE NUMBER OF TOYS“R”US LOCATIONS NATIONWIDE FOR 2010 CHRISTMAS SEASON - Press Releases - Toys"R"Us Corporate". Toysrusinc.com. http://www.toysrusinc.com/press-room/releases/general/2010/toysrus-announces-plans-to-open-600-toysrus-express-stores/. Retrieved 2011-01-10.
- ^ Toys "R" Us Inc. (2009-05-29). "Toys "R" Us Acquires FAO Schwarz". Press release. http://www3.toysrus.com/Investor/pr/052709.html. Retrieved 2009-06-01.
- ^ "Feature Shops and Attractions - Toys"R"Us Corporate". Toysrusinc.com. http://www.toysrusinc.com/about-us/times-square/feature-shops-and-attractions/. Retrieved 2011-01-10.
- ^ Valencia, Milton J. (September 14, 2009). "Tweet the giraffe, star of ads and movies, dies at Franklin Park Zoo". The Boston Globe. http://www.boston.com/news/local/breaking_news/2009/09/tweet_the_giraf.html.
- ^ http://news.ninemsn.com.au/article.aspx?id=8203703
- ^ "International Locations - Toys"R"Us Corporate". http://www.toysrusinc.com/our-brands/international/locations/.
- ^ "Toys "R" Us UAE Website". Toysrusuae.com. http://www.toysrusuae.com/content/pressReleasePage.aspx. Retrieved 2011-01-10.
