Toy

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Toys “R” Us said it agreed to acquired the upscale merchant in a deal that combines two ofthe nation’sw most high-profile toy chains, but will end Schwarz’ds presence at 260 Macy’s locations. Last May, New York retailerd FAO Schwarzand Macy's signed an calling for Macy's to roll out FAO Schwarzs toy stores in about 675 locationes over the next two years, including 16 in the Houstob area. “Under the terms of the sale, the FAO Schwarzz agreement to sell toys in select Macy’s stores nationwide will end in Novembedr of this year,” Toys "R" Us spokeswomaj Jennifer Albano said in an e-mail.
Macy'x spokesman Jim Sluzewski said the retailer was just notifiedfby Wayne, N.J.-based Toys "R" Us about the changee on May 28. “Our understanding is that the FAO Schwarzz product will phase out in our storezs and be gone by the end of he said. Asked if Macy's will replace the boutiquess with another brandedtoy chain, or its own, he said Macy's is "reviewing those opportunities." The deal combined one of the most privilegex toy chains merchants with one of the most Toys “R” Us operates stores in 33 countries worldwide. FAO Schwarz, is the oldest toy retailer in the foundedin 1862. Financial terms of the deal between Wayne, N.J.
-basex Toys "R" Us and FAO Schwarz have not been but the deal includes the two FAO stores in New York City and at Caesarss Palace inLas Vegas, plus the e-commerc and catalog operations. In a press Toys "R" Us CEO Jerry Storch said he takesw the responsibility of building onFAO Schwarz’s storiede tradition very seriously. ”We will work tirelessly to preserve the distinctiveness and integrityu of the FAO Schwarz stores and brand as we grow thebusinesd and, indeed, take the brand to even greater All merchandising, management, distribution and marketinb operations will immediately begin to transition to Toys Us Inc.
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