Toys “R” Us could close all stores this week
Bankrupt retailer Toys “R” Us may shut all its US stores as soon as this week, according to several reports.
My Childhood is officially over, Investors of two of the biggest publicly traded toy companies are clearly preparing for the worst. Shares of Hasbro () fell 3.5% Friday morning while Mattel ( )plunged 7%.
All sales for toys are down Lego reported its first sales drop in thirteen years earlier this week. Canada’s Spin Master, which owns the popular line of Hatchimals toys, was down about 3%, Jakks Pacific () fell nearly 5%, Right now are tough times for the toy makers.
Toys “R” Us is the last megastore dedicated to toys. Without it, toymakers will struggle to promote anything but their most popular items.
Why you ask well i think it is partly due to the rise of video games and other high-tech toys that kids are increasingly playing with instead of action figures, dolls and board games. I stat and watched my niece watch another kid on youtube play with their toys, I was so lost.
Also I blame Amazon the prices on there are always lower than the stores.