Published: Wed, March 21, 2018
Finance | By Jaime Brady

Amazon may buy some Toys 'R' Us stores

Amazon may buy some Toys 'R' Us stores

A spokesperson for the company couldn't immediately provide how many Staten Island employees will lose their jobs, but the nationwide job loss is estimated at 30,000. The toy retailer had filed for Chapter 11 bankruptcy protection in September.

"I like to go into a store, get what I need, get it wrapped up and get it out of there because I have to bring two kids to a birthday party in five minutes", she said. "Play with Legos, walk around and see all the toys and their expressions and they're faces lighting up".

It's no secret that bricks-and-mortar retailers have been hurt by competition from virtual retailers.

A Toys R Us outlet store has been scheduled to open this fall at Empire Outlets in St. George.

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Toys R Us is moving to close or sell all 735 of its U.S. stores after filing a motion to liquidate last week. Potential new owners of the Canadian business might be interested in taking over the operations of some of the most profitable Toys R Us stores in this country. It follows a consumer preference shift to online retailers and the rise of electronic devices over toys. That forced the chain to divert resources from operating priorities in order to repay lenders.

While there are multiple causes to blame for Toys "R" Us' problems, the company revealed that they think the problems lie with lack of one important category of customer. "And Geoffrey said it best, I'll never grow up at Toys R Us". The chain accounted for 9 percent of Hasbro's global net sales a year ago, far less than the Rhode Island company sells through Walmart. That could cause problems for customers with gift cards. Shoppers can also expect liquidation sales over the next few months.

Whole Foods is working towards streamlining its supplier process across the United States, to help ensure all store are operating under the same rules and - where possible - using the same, or approved suppliers.

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