lodibricks Posted January 24, 2018 Share Posted January 24, 2018 I think it's crazy some of you have 3 or 4 locations nearby. TRU is no Starbucks. Quote Link to comment Share on other sites More sharing options...
Val-E Posted January 24, 2018 Share Posted January 24, 2018 Perhaps a kind mod could sticky the link with the list of stores closing in the first round. https://www.thebrickfan.com/toys-r-us-will-close-180-stores-across-the-us/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+LegoEverlasting-LegoReviewsNews+(The+Brick+Fan+-+LEGO+Reviews+%26+News) Quote Link to comment Share on other sites More sharing options...
jaisonline Posted January 24, 2018 Share Posted January 24, 2018 1 hour ago, Ed Mack said: My local TRU in Burlington will be closing, as well as many of the largest in the state on NJ. These are certainly not bad shopping areas. Very disappointing. Yup. The one near the Cherry Hill Mall also. Quote Link to comment Share on other sites More sharing options...
Ed Mack Posted January 24, 2018 Share Posted January 24, 2018 10 minutes ago, lodibricks said: I think it's crazy some of you have 3 or 4 locations nearby. TRU is no Starbucks. There was always a large amount of TRUs in NJ. I lived up in north NJ as a kid and now live in the NJ Philly suburbs and TRU was always an option for me as a kid and now as a parent. I am very sad to hear that this is the end of an era. I love Amazon, but in this case, I wish they never existed. Quote Link to comment Share on other sites More sharing options...
feed Posted January 24, 2018 Share Posted January 24, 2018 Amazon hasn’t helped certainly, but it’s PE all the way down for TRU. And they’re not the only ones. https://wolfstreet.com/2018/01/22/the-private-equity-firms-at-the-core-of-brick-mortar-retail-bankruptcies/ Toys ‘R’ Us shows how this was done: PE firms KKR, Vornado Realty Trust, and Bain Capital Partners acquired the publicly traded shares of Toys ‘R’ Us in an LBO in 2005. In 2004, Toys R Us had $2.2 billion in cash and short-term investments. By Q1 2017, this had collapsed to just $301 million. Over the same period, long-term debt surged from $2.3 billion to $5.2 billion. In other words, “cash minus debt” was -$112 million in 2004. By 2017, it had ballooned to -$4.9 billion. While the PE firms were busy extracting cash, the company, cash-strapped and focused on cost-cutting, failed to create an online presence that could compete with Amazon and others, didn’t successfully make the transition to electronic devices, video games, and apps, and let its physical stores deteriorate. It should have spent the last decade investing heavily in its future. Instead, it was forced to borrow large amounts of money just to enrich its PE-firm owners. 4 Quote Link to comment Share on other sites More sharing options...
Captain_chaos Posted January 24, 2018 Share Posted January 24, 2018 2 minutes ago, feed said: Amazon hasn’t helped certainly, but it’s PE all the way down for TRU. And they’re not the only ones. https://wolfstreet.com/2018/01/22/the-private-equity-firms-at-the-core-of-brick-mortar-retail-bankruptcies/ Toys ‘R’ Us shows how this was done: PE firms KKR, Vornado Realty Trust, and Bain Capital Partners acquired the publicly traded shares of Toys ‘R’ Us in an LBO in 2005. In 2004, Toys R Us had $2.2 billion in cash and short-term investments. By Q1 2017, this had collapsed to just $301 million. Over the same period, long-term debt surged from $2.3 billion to $5.2 billion. In other words, “cash minus debt” was -$112 million in 2004. By 2017, it had ballooned to -$4.9 billion. While the PE firms were busy extracting cash, the company, cash-strapped and focused on cost-cutting, failed to create an online presence that could compete with Amazon and others, didn’t successfully make the transition to electronic devices, video games, and apps, and let its physical stores deteriorate. It should have spent the last decade investing heavily in its future. Instead, it was forced to borrow large amounts of money just to enrich its PE-firm owners. Often the way these days. Just look at Philip Green with BHS. Parasites, in the true sense of the word. Quote Link to comment Share on other sites More sharing options...
Sandwraith Posted January 24, 2018 Share Posted January 24, 2018 59 minutes ago, jeff_14 said: Which ones are those? We lost one in the east end of Scarborough the other year already. I hit Scarborough and Newmarket fairly often and they seem alright. I get to Yonge and Eg, Dufferin Mall less often and the Steeles and Sherway hardly ever. That’s TRU for me Really? oh no i'm a west GTA area person, i usually don't go to anything past Sherway. When i lived out in Oakville the Burlington location was always pretty quiet, great place to find sets lingering (found some %30 off Helm's Deep/ Uruk Army a good while after retirement). Oakville and North Mississauga location were pretty slow too. Sherway is my local store, always seems busy no matter what time i go. Quote Link to comment Share on other sites More sharing options...
Ed Mack Posted January 24, 2018 Share Posted January 24, 2018 24 minutes ago, feed said: Amazon hasn’t helped certainly, but it’s PE all the way down for TRU. And they’re not the only ones. https://wolfstreet.com/2018/01/22/the-private-equity-firms-at-the-core-of-brick-mortar-retail-bankruptcies/ Toys ‘R’ Us shows how this was done: PE firms KKR, Vornado Realty Trust, and Bain Capital Partners acquired the publicly traded shares of Toys ‘R’ Us in an LBO in 2005. In 2004, Toys R Us had $2.2 billion in cash and short-term investments. By Q1 2017, this had collapsed to just $301 million. Over the same period, long-term debt surged from $2.3 billion to $5.2 billion. In other words, “cash minus debt” was -$112 million in 2004. By 2017, it had ballooned to -$4.9 billion. While the PE firms were busy extracting cash, the company, cash-strapped and focused on cost-cutting, failed to create an online presence that could compete with Amazon and others, didn’t successfully make the transition to electronic devices, video games, and apps, and let its physical stores deteriorate. It should have spent the last decade investing heavily in its future. Instead, it was forced to borrow large amounts of money just to enrich its PE-firm owners. Excellent points...Like you stated, there is lots of blame to go around. TRU failed to grasp the importance of affiliate advertising. Amazon would pay generous fees to anyone who promoted their items and links, TRU scoffed and gave nothing. Dopes. Quote Link to comment Share on other sites More sharing options...
KvHulk Posted January 24, 2018 Share Posted January 24, 2018 Good Riddance. Quote Link to comment Share on other sites More sharing options...
labfreak7 Posted January 25, 2018 Share Posted January 25, 2018 Good Riddance.Right, let's. Narrow the field to less stores and closer to monopolies. Quote Link to comment Share on other sites More sharing options...
Bold-Arrow Posted February 7, 2018 Share Posted February 7, 2018 starting today Quote Link to comment Share on other sites More sharing options...
minicoopers11 Posted February 7, 2018 Share Posted February 7, 2018 Got new TRUTH email, now extended through 9/1/18! lol More importantly: "*Offer available in-store only and subject to credit approval. Get 10% off your single receipt in-store purchase of in-stock merchandise charged to your “R”Us Credit Card on Thursdays through 9/1/18. Excludes Gift Cards, laptops, netbooks, tablets, video game hardware, adidas apparel, American Girl, Apple iPad & iPod, Build-A-Bear, Claire's, Converse Clothing & Shoes, NECA (National Entertainment Collectibles Association), Nike apparel, Nintendo Switch accessories, Nintendo Switch software, SquareTrade Protection Plans, phone orders, all fees, and shipping. Not valid with the account opening discount coupon or on prior purchases. Offer is subject to change. Value is forfeited if item is returned. Other exclusions may apply. See a Team Member for details. " LEGO is not listed as an exclusion. Will LEGO be an "other" exclusion? Hmmm... 2 1 Quote Link to comment Share on other sites More sharing options...
exracer327 Posted February 7, 2018 Share Posted February 7, 2018 There are several TRU near me but the only stores near me on the chopping block are BRU. The last time I was in a TRU their LEGO stock was pathetic. Mostly older constraction sets and none of them on sale. They did have high-end LEGO sets, but they were all marked above LEGO prices. They didn't even have their new TRU exclusive sets in stock which had been available on LEGO Shop at Home for weeks. In fact, the one set I was interested in while in store was a Speed Champions Ferrari F1 Semi Truck. The box was kind of rough but to find one a year after it went EOL was surprising. It didn't have a price and was just alone on the shelf (lots of empty space all around it). Asked a team member for a price and they said it was $119.00. The co-worker with them said, "No that can't be the price," which I agreed and said, "this was $99.99 set from LEGO and it retired over a year ago. How can it be higher than the original listed price with a beat up box?" She scanned it again and sure enough $119. *Sigh* I told the employees, no wonder y'all are going bankrupt and they both said, "Yeah, don't get us started on that." I put it back... I think TRU needs some thinning, but after that experience I'm not convinced they're getting it. (Low variety, what they do have in stock, they have tons of - stuff that other retailers are currently selling between 40-60% off, and no interest in pricing their merchandise to get it moving.) I foresee a lot more store closings in the USA. As a side thought, I have to wonder if either TRU or the financial groups who own TRU are trying to run TRU into the ground. These pricing practices simply don't make any sense. At least this is what I'm seeing in TRU around me. Quote Link to comment Share on other sites More sharing options...
Val-E Posted February 7, 2018 Share Posted February 7, 2018 (edited) Perhaps being more competitive on price is for new toys going forward. If they had to go through all the old retired stock of all brands it would take them forever to reprice them. It´s the store manager´s job to put the turds and bashed boxes in @exciter1´s Pick Up, sorry I meant to write the clearance box. Edited February 7, 2018 by Val-E Quote Link to comment Share on other sites More sharing options...
Darth_Raichu Posted February 7, 2018 Share Posted February 7, 2018 Heh, all TRU stores in my area survive this round of closing. I attribute it to the amount of diligent resellers in my area (you know who you are ) Quote Link to comment Share on other sites More sharing options...
zaphoid Posted February 7, 2018 Share Posted February 7, 2018 (edited) So although my local store showed up on the USA Today list as closing, TRU doesn't list it as closing and they have signs in the store that states they are not closing. Honestly I don't know how I feel about that. Edited February 7, 2018 by zaphoid Quote Link to comment Share on other sites More sharing options...
Ed Mack Posted February 8, 2018 Share Posted February 8, 2018 Stopped by my TRU last week and got two Palace Cinemas and Creator Big Bens for 50% off. Best deal I ever got at a TRU. 8 Quote Link to comment Share on other sites More sharing options...
Will 4 Posted February 8, 2018 Share Posted February 8, 2018 Looks like some one could try to save the UK arm, https://news.sky.com/story/hmv-owner-hilco-plots-last-gasp-rescue-of-ailing-toys-r-us-uk-11241416 Quote Link to comment Share on other sites More sharing options...
Alpinemaps Posted February 8, 2018 Share Posted February 8, 2018 I noticed yesterday it's been awhile since I've been in TRU. At least since before Christmas. But, looking back at my inventory sheet, I discovered it's pretty typical. TRU was extremely slow Q1 last year for me too. I didn't buy anything from them last year until end of Q1. So, while I bemoan them for their sales strategy, Q1 is playing itself out like it did last year. Hopefully things will pick up with them after the start of April. Quote Link to comment Share on other sites More sharing options...
Mos_Eisley Posted February 22, 2018 Share Posted February 22, 2018 And it looks like another round of up to 200 additional store closings could be coming. https://www.wsj.com/articles/toys-r-us-plans-to-close-another-200-stores-1519254948 Quote Link to comment Share on other sites More sharing options...
exciter1 Posted February 22, 2018 Share Posted February 22, 2018 9 minutes ago, Mos_Eisley said: And it looks like another round of up to 200 additional store closings could be coming. https://www.wsj.com/articles/toys-r-us-plans-to-close-another-200-stores-1519254948 I know they aren't selling much right now, because there's barely any stock in the stores. Quote Link to comment Share on other sites More sharing options...
Ed Mack Posted February 22, 2018 Share Posted February 22, 2018 15 minutes ago, Mos_Eisley said: And it looks like another round of up to 200 additional store closings could be coming. https://www.wsj.com/articles/toys-r-us-plans-to-close-another-200-stores-1519254948 How many are left? Quote Link to comment Share on other sites More sharing options...
Val-E Posted February 22, 2018 Share Posted February 22, 2018 (edited) 11 minutes ago, Ed Mack said: How many are left? About half of them as 170 were on the first list and that was a fifth of them. Edited February 22, 2018 by Val-E Quote Link to comment Share on other sites More sharing options...
Mos_Eisley Posted February 22, 2018 Share Posted February 22, 2018 My favorite part of the store closings is that they won't sell stuff like the big Funko Freddy or the LEGO set displays because they belong to the vendors. You guys have about $32 million dollars that belongs to TLG and you're worried about returning the displays? 3 1 Quote Link to comment Share on other sites More sharing options...
zaphoid Posted February 22, 2018 Share Posted February 22, 2018 1 hour ago, Mos_Eisley said: And it looks like another round of up to 200 additional store closings could be coming. https://www.wsj.com/articles/toys-r-us-plans-to-close-another-200-stores-1519254948 Here's another link to the story that's not pay walled http://www.businessinsider.com/toys-r-us-reportedly-closing-another-200-stores-laying-off-workers-2018-2?r=UK&IR=T Also it looks like they are in danger of breaking loans made to them. https://www.cnbc.com/2018/02/21/toys-r-us-is-in-danger-of-breaching-a-covenant-with-its-lenders.html Quote Link to comment Share on other sites More sharing options...
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