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Traditional toys "R" coming to Best Buy

Richfield-based company looks to fill the toy gap

October 30, 2018 - 9:29 am

Richfield-based Best Buy is among the major American retailers taking steps to pick up a slice of the more than $10 billion in annual toy sales up for grabs following the demise of Toy R Us.  

Retail Analyst Ken Perkins said Best Buy has a number of competitors looking for a slice of what Toys R Us left behind.

"We've seen other players move to fill the vacuum that Toys R Us has left in the wake of their bankruptcy. Target is expanding their floor space, Party City is having a number of pop-up shops, we've seen JC Penny expand their toy business," he said.

Officials with Best Buy say selling toys is not exactly new to them, having sold things like drones, video games and remote control cars.

"A lot of the toys are moving into the digital space, electronics space," said Perkins. "That seems to be where the bulk of the growth is. I think it's a good move for them."

Perkins said Best Buy already has a customer base for its high tech toys and is well-positioned to use available floor space for more traditional toys.

Toys R Us filed for bankruptcy protection in Sept. 2017, eventually closing nearly all of its US stores and ending on-line sales.

Earlier this month, Toys R Us announced the sale of all of its assets in an attempt to revive the brand.

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