Geoffrey’s Toy Box Is The New Toys R Us

Discussion in 'Transformers News and Rumors' started by BenjaminXavier, Oct 10, 2018 at 11:30 AM.

  1. RKillian

    RKillian http://www.rktoyandhobby.com

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    My point sailed right over your head. If Sears thought there was money to be made from toy sales, it would sell toys directly. Collecting rent from KB is not the same as selling toys.

    Sears did not have to choose products, purchase products, or market products. Sears merely put their hand out the first of every month and collected a fee. If KB never sold a single product, too damned bad. Or, to paraphrase a line from Goodfellas: "Place burned down? Fuck you, pay me. Lightning struck? Fuck you, pay me. Slow business? Fuck you, pay me."

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    Last edited: Oct 12, 2018 at 5:03 AM
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  2. GAUGE

    GAUGE ¯\_(ツ)_/¯ Meh.

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    So basically, they are Kay-Bee Toys now.

    Seriously, they are doing the exact same thing Kay-Bee did by having a store inside another well... store. I mean I'm betting they'll be inside Malls and Strip Malls or hell even Sears.

    Edit: Oops! Sorry. I'm late to the discussion. I guess folks already brought it up, meh.
     
  3. G1Optimal

    G1Optimal Autobot

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    I know i shouldn’t have my say since i am Australia but...

    Geoffrey’s Toy Box is a good name to describe a toy section inside a store, which explains why it is not Toys R Us i guess.
    And those who say that it sucks for the staff they fired, i doubt it would matter as they will use the staff of the store they are in and are probably not hiring new staff to annoy the staff they fired.

    It is similar to what a store here did when it was shut down it was called World 4 Kids (it was started to compete with toys r us when it came down here) sometime after it ended it became the name of the toy section in our K Marts (probably becuase it was owned by the same company) i have not seen it since when kmart dropped it.
     
    Last edited: Oct 12, 2018 at 4:11 AM
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  4. Requiem Prime

    Requiem Prime Well-Known Member

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    So the dude who happened to own KB and whoever owns what's left of TRU are going to push a bunch of "pop up stores". I wonder if either will grow to established storefronts again.
     
  5. Retroheavy

    Retroheavy Well-Known Member

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    It kinda sounds like they are just gonna hang up a sign that says "geoffreys toy box" next to the toy aisles in a target or something.
     
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  6. Chris Bot

    Chris Bot AutoChrisbot

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    That's exactly what I was thinking.
     
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  7. PurpleAndBlackSmokeStacks

    PurpleAndBlackSmokeStacks Well-Known Member

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    Exactly, and prey on nostalgia and somewhat of a name/brand recognition to draw in more sales, without having to do anything else or offer more products.
     
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  8. WishfulThinking

    WishfulThinking "Don't touch it! It's evil!"

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    Okay, there seems to be some confusion still for latecomers here. So, here's the FAQ:

    - The current owners of the IP are not the same group of investors that watched the company sink earlier this year. The IP was used as collateral during the burndown and this group was left holding the bag.
    - The current owners also inherited the brick and mortar stores/infrastructure/etc. which was sold off at auction. All of that is gone.
    - The current owners decided NOT to auction the IP right before it went to auction because they think they can make more money off it by collecting from international markets for IP use and selling the toy brands that are still owned under the TRU banner (these being brands like True Heroes, Imaginarium, etc.)
    - The model they planning to use this holiday season is "store-within-a-store" as Geoffrey's Toy Box. This is not like a KB Toys or Go!Toys! Calendar Store "pop-up". While both may be regarded as temporary, or "seasonal", the latter is self-contained whereas the former is a section within an established store.
    - While TRU is examining the idea of returning in some capacity as self-contained stores, that appears to be years down the road. So former employees shouldn't be upset - at least, no more than they were when they lost their jobs in the first place.
    - No amount of patronization of the original TRU would have saved it (and the jobs therein). The debt load was too high and any proceeds the previous investor group could have used to pay it down was spent on other investment properties while they watched TRU burn. That's how Bain Captial-like investment groups work. They buy borderline companies, use the profits to support the "winners" in their profiles and let the "losers" collapse under their own debt load after several years.

    I hope that helps sort out the misconceptions some folks have as to what is going on here.
     
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  9. GizmoTron

    GizmoTron Roobaticon Commander

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    Funny, but you're misinformed. Back in that situation it wasn't actually rented space from KB or an actual KB branded store inside of a Sears. Sears brought the toys in and sold the toys themselves at Christmas, they just got the toys from KB. Sears still had to deal with anything that didn't sell.
     
  10. gbm

    gbm Well-Known Member

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    I'm sure it was brought up somewhere in this thread, but I heard on NPR this morning that they are considering a "store within a store" concept.

    What exactly is that?
     
  11. WishfulThinking

    WishfulThinking "Don't touch it! It's evil!"

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    Toys R Us Express - a Pop-up store
    Claire's section in inside a Toys R Us - store within a store
     
  12. stad

    stad Well-Known Member

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    It was quite a bit more complicated than that - if it was just a scam all along, you don't play it out over 13 years. But I'm not saying there wasn't some of that in the tactics used either.
    TRU was already in trouble when it was bought, something like $1.3B in debt. To further the troubles, part of that purchase/debt gave them capital to greatly expand the Babies R Us concept, something that was a majority source of operating income for TRU at the time, despite being a small (15%) percentage of sales - this was seen as a great move to "rescue" the company.
    Then the bottom fell out of the baby market (Amazon again) and it became another drain on the company, right after they had invested all of that money, which was also a healthy share of the overall debt of the new company.
    If the Babies R Us reality had actually followed the forecasts, it likely would've been enough to wipe out that debt rather quickly. People just decided Amazon was better than going to an actual store for baby items almost as quickly as TRU had built up/remodeled all those stores.
     
  13. Philip164

    Philip164 Board Member

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    Probably online stores only
     
  14. WishfulThinking

    WishfulThinking "Don't touch it! It's evil!"

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    :banghead: 
    :thumb 
     
  15. gbm

    gbm Well-Known Member

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    Ah ok, so that but in reverse?

    A store with a TRU section in it? What type of stores would house such a section?
     
  16. GizmoTron

    GizmoTron Roobaticon Commander

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    Wild internet speculation has guessed places like Kohl's or Meijer's. It's supposed to be a mid-western based retailer, but the problem is that narrows it only down to about 100 different retailers.
     
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  17. WishfulThinking

    WishfulThinking "Don't touch it! It's evil!"

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    I've got bets on Menards in the deadpool...
     
  18. Hoffman

    Hoffman Well-Known Member

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    To the person walking by, it might look like that's all they've done. The real change will be in how it is operated. This new company will likely own and control the inventory and merchandising of the toy section.
     
  19. WishfulThinking

    WishfulThinking "Don't touch it! It's evil!"

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    I'm not so certain about that. This literally seems like they're going to work out an agreement with a store to sell their IP products in a special section that the store controls and may or may not tear down after the holidays are finished. There will be GTB signage but the inventory will be controlled by the store, not TRU. TRU doesn't have the infrastructure to push inventory out on their own...their going to piggyback on the store as much as they can by using their warehouses and transport systems.
     
  20. Hoffman

    Hoffman Well-Known Member

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    What would the benefit be to the store? I don't think we have enough information to presume anything beyond what has been announced, which is that there will be a 'store within a store". Based on comparables in the market, that would suggest that Geoffrey's Toy Box will be it's own thing inside another store.

    But again, we don't really have enough information to draw any conclusions.
     
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