Monthly Archives: March 2015

Toys ‘R’ Us to leave Times Square store as rents rise – Salt Lake Tribune

Original article

The move reflects rapid rent growth in the Times Square “bow tie” — the blocks immediately surrounding the area where Broadway and Seventh Avenue cross, often called the crossroads of the world. Retailers clamoring for access to the square’s tourist traffic have been driving rents higher.

Rates for ground-floor retail space in the bow tie area averaged $ 2,317 a square foot in late 2014, higher than anywhere in Manhattan except for Fifth Avenue between 49th and 59th streets, according to a report by the Real Estate Board of New York. Three years earlier, the average was $ 1,433 a square foot.

Toys “R” Us has been “a proud resident of Times Square since our international flagship store opened there,” Linda Connors, a spokeswoman for the company, said in an e-mailed statement. “The lease for our store in Times Square expires in 2016 and, as previously noted, we have been reviewing our lease renewal options. We have not signed a lease agreement for a new location, and any rumors regarding this ongoing process are just that.”

The toy merchant’s 21,000-square-foot ground floor is being marketed for $ 2,500 a square foot, its second-floor space for $ 350 a square foot, and the lower level for $ 150 a square foot, Mendelson said. There are four other retail tenants in the 150,000-square-foot building: Foot Locker and Swatch stores, a Starbucks coffee shop and the Bond 45 restaurant. Their leases all expire in February, the same time as Toys “R” Us, he said.

Toys “R” Us may relocate to the retail storefronts across the square at the Marriott Marquis Hotel, where Vornado Realty Trust controls the retail portion of the property, according to the Commercial Observer, which reported the retailer’s move Tuesday. Vornado, which owns a stake in the toy retailer, has installed Times Square’s largest digital advertising sign above its stores.

About 43,000 square feet of retail space is immediately available at the hotel, according to Vornado’s website.

Wendi Kopsick, a Vornado spokeswoman, said the company would have no comment.

The model dinosaur and Ferris wheel are Toys “R” Us property, and could be used at its new store “wherever that may be,” Mendelson said.

While there had been discussions with Toys “R” Us about taking less space, “there is nothing ongoing right now” with the retailer, he said.

The Times Square store was a staging area for national marketing for the company, which has struggled in competition with Wal-Mart Stores and online merchants such as Amazon.com[1]. Gerald Storch, former chief executive officer of Toys “R” Us, sometimes gave television interviews from the property.

References

  1. ^ Amazon.com (Amazon.com)

toys shop – Google News

ThinkGeek | join. Geek Out.

Original article

Links of the Week! You have to kill some time? We have something for you! Here are the last links of the great things of the internetz. Our favorite links of Twitter, Google+, Facebook and Pinterest ‘verse

Step 2 – kids toys, play kitchens, playhouses, Wagons …

Original article

Our blog has everything but the kitchen sink game! Discover fun crafts for your kids, delicious recipes, smart ways to use toys, tips for youth development, healthy living, community involvement Step 2′s, and genuine shops of parents just like you Visit the Blog [1]

These toys could make your kids smarter – MarketWatch

Original article

NEW YORK (MarketWatch) — All the buzz about geek chic, tech start-ups and lucrative tech job prospects has given rise to a new toy category: STEM.

In an industry that’s seen little growth, playthings designed to boost kids’ brain power in science, technology, engineering, math have been one of the sector’s bright spots. (And some say that art is a crucial component, so there’s STEAM, too.)

“Parents have always asked about the value a toy has,” said Toys “R” Us Chief Merchandising Officer Richard Barry in an interview. “The difference is the words STEM and STEAM are very prominent on the customers’ minds. They are asking specific questions. We know that in the world we live in, tech, science and engineering are a big part of what’s driving the economy. There’s some significant news out there about the attractiveness of the job market in the science and engineering. As a parent, equipping your kids with the skills is important. That’s what’s driving (the trend.)”

Toys “R” Us saw strong sales in the category last year and will be dedicating more shelf space this year to it, Barry said. In fact, some toy makers have even changed their classic toy packaging to highlight out those STEM attributes that their toys have, he said. Toys “R” Us is also considering changing packaging on some of its own private-label Imaginarium and other educational toys, Barry said.

“STEM toys are continuing to grow because there’s obviously a market for them,” said Adrienne Appell, a trend specialist at the Toy Industry Association, a trade group representing the industry. “Kids are gravitating towards products that teach them how to build, code, learn about science because it’s such a mainstream part of our culture. If you can make a product even more engaging and use even more innovative technology, it makes it that much cooler.”

Amazon.com Inc. AMZN, -0.85%[1]   for the first time compiled a list of STEM toys this past holiday season, which turned out to be among its most-visited holiday toy lists by category, said Eva Lorenz, Amazon’s category leader for toys & games. Some of its best-selling holiday toys were STEM products, she said.

“We expect this trend to continue,” she said.

Check out some STEM toys:

References

  1. ^ AMZN, -0.85% (www.marketwatch.com)

toys kids – Google News