Last night, they stopped sales of gift cards for "the immediate future". Today, an E-mail was sent to the stores from the CEO of the company stating that they will "address all of our issues and concerns by the end of the week" regarding the "financial status of the business" and to "continue offering the best experience to our guests". Yeah. KB Toys is going out of business. Joy.
NO! Hopefully a larger corporation will buy them, perhaps Toys 'R' Us? MER-GER, MER-GER, MER-GER.....!
Not likely. There's little to no value in in-mall toy stores anymore. They simply don't have the shelf space to offer the larger, high profit items a Toys R Us, Target or Wal-Mart can offer that helps offset the high costs of toys. thus places like KB have to charge more per item, and less people go there to shop.
Not surprising in the least. In the long run, they just couldn't compete with Target and WM anymore...they never could.
I was under the impression that Kaybee and Toys 'r Us were now owned by the same parent company. If that is the case, I don't think one could or would buy the other. Hmm, their HQ isn't that far from where I live, didn't know that. It's in Pittsfield, Ma.
Kind of. Stores like Target and WalMart are able to sell their toys almost at cost because they make up for their losses in the video and grocery sections of their stores. Stores like Toys'R'Us and KB Toys, both who have had financial difficulties in recent years, don't have anything other than toys to make up for any potential losses, so they have to charge what retail really should be on their toys. KB Toys tried "Super Value" toys, which were toys that were carried by other stores that couldn't sell the product, so KB Toys bought the items on pennies to the dollar and returned that same value to their customers. But the buyers have made questionable decisions as of late, and some of their big purchases (RC Triclops, for example) have fallen flat on their face and actually cost the company money. What sucks is KB Toys was on trend to make PROFIT for the first time since 1998, and the economy crash has not only killed the chances of that, but may have killed the company.
Its about time that hell hole went under! No offense to you, Chris. Did they get rid of the kbtoys.info website?
Sadly that's probably the case. I remember when KB was at the mall here in town and was abosultely the case but that closed years ago and locations seem to be fewer and fewer. Still though it'd be nice to see them come up with another alternative.
It all depends on the store. Yeah, some of the stores are full of a bunch of uncaring assholes who just want their paycheck who let their store fall apart and don't really give a damn. Some stores, like my own, we put in a shit ton of work after hours just to make sure there's enough room for the customer to be able to walk around. If you've had a bad experience, then I'm sorry. Come to my store
That sucks Their prices were boosted but it was a good last resort to run to, and scored lots of GI Joes for CHEAP from their clearances. Going to miss those exclusives as well. Considering your position there, maybe it'll look good on the resume and you can get a step up with the income on a new jawbyjob. Still sucks tho, and swapping jawbbyjawbzors is always a hasslehoff
Thanks for the heads up. My daughters just got $20 KB gift cards from their aunt and uncle- think we'll be using them online TONIGHT.
You shouldn't be in retail sales anyway man, you should be in the sales dept at a company that you can make serious cash at. It's more suited for your personality.
Wow, that REALLY sucks. But what'd you expect? Wal-Mart, Target, and Toys R Us get more profits than this little toy store.
I used to shop at KB a ton in the 90s (bought many clearanced toys just because they looked cool) but haven't shopped there in a long time. Sometimes browse but never find anything I want. Still they have a soft spot in my heart.
Kb toys prices were kind of high, it does makes sense why they were though, toysrus prices are a rip off, they always sell things $10 more than other stores. Targets prices are cheaper and then walmarts prices are even cheaper than Targets.
