Toys R Us, Hobbled by Competition, Will Shutter 180 Stores - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Toys R Us, Hobbled by Competition, Will Shutter 180 Stores

Posted: Jan 24, 2018 11:52 AM Updated:
In this Tuesday, Sept. 19, 2017, file photo, shoppers walk into a Toys R Us store, in San Antonio. (Eric Gay | AP) In this Tuesday, Sept. 19, 2017, file photo, shoppers walk into a Toys R Us store, in San Antonio. (Eric Gay | AP)

NEW YORK (AP/WBOC)- Toys R Us, squeezed by Amazon.com and huge chains like Walmart, will close 180 stores, or about 20 percent of its U.S. locations, within months. Among the Toys R Us stores slated to close is the one in Dover, Delaware.

Hobbled by $5 billion in debt, the company that once dominated toy sales in the U.S. filed for bankruptcy protection in September.

Chairman and CEO Dave Brandon said in a letter Wednesday that tough decisions are required to save Toys R Us.

Toys R Us operates about 900 stores in the U.S.

The store closings will begin in February and the majority of the targeted locations will go dark by mid-April. At some other locations, the retailer is combining its Toys R Us and Babies R Us stores.

Toys R Us, based in Wayne, New Jersey, has struggled with debt since private-equity firms Bain Capital, KKR & Co. and Vornado Realty Trust took it private in a $6.6 billion leveraged buyout in 2005. The plan had been to take the company public again, but weak sales have prevented that from happening. With such debt levels, Toys R Us has not had the financial flexibility to invest in its business.

While its numbers have been shrinking, Toys R Us still sells about 20 percent of the toys bought in the U.S. according to Stephanie Wissink, an analyst at Jefferies LLC.

Competitive pressures will force the company to take a close look at all of its stores, and more will likely be shuttered over the next year or two, Wissink said.

Toys R Us reigned supreme in the 1980s and early 1990s, when it was one of the first of the "category killers" - a store totally devoted to one thing: toys. Its scale gave it leverage with toy sellers and it disrupted general merchandise stores and mom-and-pop shops.

Now Toys R Us and other category killers like the now-defunct Sports Authority, Borders and Circuit City, are being upended by a new force: Amazon.com.

GlobalData Retail estimates that about 13.7 percent of toy sales were made online in 2016, up from 6.5 percent five years ago.

Toys R Us has been hurt by a shift to mobile devices as well, which take up more and more play time.

About three dozen retailers sought bankruptcy protection last year due in large part to a radical shift in consumer behavior, both in where they shop, and what they buy.

Toys R Us closed its flagship store in Manhattan's Times Square, a huge tourist destination, about two years ago.

The struggles of Toys R Us have rippled outward and rumors continue to swirl around the possibility of a merger between Mattel and Hasbro, the nation's largest toy makers.

Wissink estimates that Toys R Us accounts for about 11 percent of Mattel's annual sales and about 9 percent of Hasbro's annual volume. Shares of both Mattel Inc. and Hasbro Inc. slipped in early trading.

"(Toys R Us) store closings will reduce rent expense and allow the company to focus all of its operating efforts on only its best locations," said Moody's lead retail analyst Charlie O'Shea in a report published Wednesday.

Brandon said Wednesday that the company made some missteps during the critical holiday shopping season.

"As the leader of this company, I want you to know that we can and will address the gaps in the experience that you may have had when shopping this holiday," Brandon said. "My team is already hard at work to make the improvements necessary to ensure that we have the products you want, when, where and how you want them."

Below is the full list of Toys R Us' stores that are closing: 

ALABAMA

Tuscaloosa 2600 McFarland Blvd. East AL

Birmingham 335 Summit Boulevard,  AL

ARIZONA

Yuma 801 W. 32nd Street AZ

Paradise Valley 12801 North Tatum Blvd. AZ

Scottsdale 9139 Indian Bend Rd. AZ

Tucson 4619 N. Oracle Rd AZ

Scottsdale 7000 E. Mayo Blvd AZ

Mesa US 60 and Signal Butte Rd AZ

ARKANSAS

Little Rock 2616 S. Shackleford Rd AR

CALIFORNIA

Indio 42500 Jackson St. CA 

Simi Valley 1189 Simi Town Ctr Way CA

Santa Clarita 26573 Carl Boyer Dr. CA

Covina 960 Lakes Drive CA

Puente Hills 1600 S. Azusa Ave. CA

Brea 2575 E. Imperial Highway CA 

Westminster 530 Westminster Mall CA

Torrance 20120 Hawthorne Blvd. CA

Riverside 2550 Canyon Springs Pkwy S. CA

Yuba City 700 "A" Onstott Rd. CA

Folsom 2785 E. Bidwell St. CA

Pinole 1330 Fitzgerald CA

Pittsburg 4505 Century Blvd. CA

San Rafael 600 Francisco Blvd. CA

Brentwood 5461 Lone Tree Way CA

Fairfield 1400 Gateway Blvd CA

Emeryville 3938 Horton CA

E. San Jose 2179 Monterey Hwy CA

San Jose / Almade865 Blossom Hill Road CA

Fresno 3520 W. Shaw Ave. CA

Union City 31250 Court House Drive CA

Stockton 10640 Trinity Pkwy CA

Santa Ana 3900 Bristol Street CA

Corona 3665 Grand Oaks CA

Mission Bay 1240 W. Morena Blvd. CA

Mira Mesa 8181 Mira Mesa Blvd. CA 

Vista 1990 University Drive CA

COLORADO

Aurora 1150 S. Ironton CO

CONNECTICUT

North Haven 376 North Universal Drive CT

Waterbury 275 Union St. CT

Newington 3491 Berlin Turnpike CT

Manchester 169 Hale Road CT

DELAWARE

Dover 1061 N. Dupont Highway DE

FLORIDA

Tallahassee 1625 Apalachee Pkwy. FL

St. Petersburg 1900 Tyrone Blvd. FL

Tampa 3908 West Hillsborough Avenue FL

Orange Park 6001 Argyle Forest Blvd FL

Altamonte Spring 708 West State Rd 436 FL

Boca Raton 21697 State Road # 7 FL

Port St. Lucie 10732 SW Village Pkwy FL

Royal Palm Beach450 South SR 7 FL

Kissimmee 2601 W.Osceola Parkway FL

Coral Springs 6001 West Sample Road FL

Kissimmee 3214 N John Young Pkwy. FL

GEORGIA

Albany 2601 Dawson Rd. GA

Smyrna 2955 Cobb Parkway GA

Alpharetta 6380 No. Point Parkway GA

Dunwoody 1155 Mt. Vernon Hwy GA

Douglasville 6875 Douglas Boulevard GA

Conyers 8160 Mall Parkway GA

Newnan 221 Newnan Crossing Bypass GA

Fayetteville 132 Pavilion Parkway GA

INDIANA

Indianapolis 3928 E 82nd Street IN

Greenwood 8800 US 31 South IN

IOWA

S. Des Moines 1211 E. Army Post Rd. IA

Des Moines 8801 University Ave IA

ILLINOIS

Highland Park 1610 Deerfield Rd. IL

Schaumburg 16 East Golf Road IL

Vernon Hills 295 Center Drive IL

Matteson 5001 Lincoln Highway IL

Bricktown 6420 W. Fullerton IL

Burbank 7750 South Cicero Avenue IL

Niles 5660 Touhy Avenue IL

KANSAS

Wichita 4646 W. Kellogg KS

Overland Park 8500 W 135th ST KS

KENTUCKY

St. Mathews 4900 Shelbyville Rd KY

Simpsonville 1155 Buck Creek Rd. KY

Lexington 1965 Star Shoot Parkway KY

LOUISIANA

Slidell 137 Northshore Blvd. LA

MICHIGAN

Muskegon 5363 Harvey Street MI

Traverse City 2620 Crossing Circle MI

Lansing 5900 W. Saginaw Highway MI

Grand Rapids 4923 28th Street South East MI

Ann Arbor 3725 Carpenter Road MI

Ann Arbor 3725 Washtenaw MI

MINNESOTA

Minnetonka 14100 Wayzata Blvd. MN

Blaine 170 89th Ave. MN

Woodbury 8236 Tamarack Village MN

Richfield 900 West 78th Street South MN

MISSISSIPPI

Meridian 1003 Bonita Lakes Circle

Bass Pro Dr. MS

MISSOURI

Columbia 1901 Bernadette MO

Cape Girardeau 201 Silver Springs Rd. MO

Bridgeton 5590 St. Louis Mills Blvd MO

Chesterfield 220 THF Blvd MO

NEBRASKA

Omaha 3505 S. 140th Plaza NE

NEVADA

Las Vegas 2150 North Rainbow Blvd. NV

Spring Valley 7020 Arroyo Crossing Parkway NV
 

NEW MEXICO

Albuquerque 45 Hotel Circle NM 

NORTH CAROLINA

Asheville 801 Fairview Road NC

Durham 7001 Fayetteville Road NC

Durham 3300 Westgate Drive NC

MAINE

Bangor 6 Bangor Mall Blvd. ME

Portland 200 Running Hill Road ME

MARYLAND

Clinton 8401 Mike Shapiro Drive MD

MASSACHUSETTS

Dedham 302 Providence MA

Millbury 70 Worcester Providence Tpk/Rt 146 MA

Holyoke 50 Holyoke Street MA

Bellingham 217 Hartford Ave. MA

Northborough 6110 Shops Way MA

Framingham Shoppers World Plaza,1 Worcester Ro MA

NEW HAMPSHIRE

Nashua 29 Gusabel Avenue NH

NEW JERSEY

Phillipsburg 1280 Rt. 22 & St. James Ave. NJ

Eatontown 137 Route 35 NJ

Bridgewater 100 Promenade Blvd. NJ

Union 2700 Route 22 East. NJ

North Brunswick 909 US Hwy 1 South. NJ

Burlington Rt. 541 & Cadillac Road NJ

Cherry Hill 2135 Route 38 NJ

Wayne 7 Wayne Hills Mall NJ

Paramus 545 Route 17 South NJ

East Hanover 98 Route 10 West. NJ

Elizabeth-KidsWo 900 Center Drive NJ

Mt. Olive 50 International Drive South. NJ

NEW YORK

College Point 139-19 20th Ave NY

Union Square 24-30 Union Square E NY

Sayville 5181 Sunrise Hwy NY

Massapequa 5214 Sunrise Hwy NY

Henrietta 2335 Marketplace Drive NY

Amherst 1569 Niagara Falls Blvd NY

Kingston 401 Frank Sottile Boulevard NY

Glens Falls 708 Upper Glen St. NY

Latham 221 Wade Road Extension NY

Yonkers 2700 Central Park Ave NY

Middle Village 66 Metropolitan Ave. NY

Westbury 1350 Corporate Drive. NY

Commack 108 Veterans Memorial Highway NY

Williamsport 461 Lycoming Mall Cir

Greece 1530 Ridge Rd. West NY

OHIO

Western Hills 6251 Glenway Ave. OH

Dayton 2661 Miamisburg-Centerville Rd. OH

Mentor 7841 Mentor Ave OH

Dublin 3610 West Dublin-Granville Rd. OH

OKLAHOMA

Oklahoma City 1119 SE 66th St. OK

Fort Smith 5609-E Rogers Ave OK

Norman 560 Ed Noble Pkwy. OK

PENNSYLVANIA

Horsham 100 Welsh Road PA

Erie 6680 Peach St. PA

Monroeville 3700 William Penn Highway PA

Exton 104 Bartlett Ave. PA

Ross Park Mall 2003 Cheryl Dr. PA

Washington 301 Oakspring Road PA

Beaver Valley Route 18/Valley View Dr. PA

RHODE ISLAND

Warwick 300 Quaker Lane 

SOUTH CAROLINA

Columbia 254 Harbison Boulevard SC

SOUTH DAKOTA

Rapid City 450 E. Disk Drive SD

TENNESSEE

Memphis 7676 Polo Ground Blvd. TN

Nashville 5731 Nolensville Rd TN

TEXAS

West El Paso 801 Mesa Hills Dr. TX

Katy 9730 Katy Freeway TX

Allen 170 E. Stacy Road TX

Irving 7730 N. MacArthur Blvd TX

Lewisville 420 E. Round Grove Rd TX

Dallas Galleria 13710 Dallas Parkway TX

Hurst 1309 W. Pipeline Rd TX

Hulen 5800 Overton Ridge Blvd TX

UTAH

Ogden 4042 Riverdale Rd. UT

Midvale 1122 Fort Union Boulevard UT

VIRGINIA

Potomac Mills 14173 Crossing Place VA

Newport News 12153 Jefferson Ave. VA

WASHINGTON

Silverdale 3567 N.W. Randall Way WA

Everett 1325A S.E. Everett Mall Parkway WA

Spokane 6104 N. Division Street WA 

WISCONSIN

Brookfield 18550 W. Bluemound Rd. WI

Madison 2161 Zeier Road WI

 

 

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