As the once-formidable Toys R Us is reportedly planning to sell or close all 800 of its U.S. stores, affecting as many as 33,000 jobs. From its roots in Maryland and the dream of a different kind of shopping experience, it grew into a giant, dominating the toy business in the 1980s and early 1990s. But despite acquisitions and changes to its leadership, it hasn’t excelled in the Amazon era or kept up with discount chains. Here is the story of the company.
1948
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After returning from World War II, Charles Lazarus starts a baby furniture store in Washington, D.C., overseeing everything from bookkeeping to delivering merchandise.
1950
After 2 years, toys are introduced to the stores.
1957
Lazarus, motivated by the emergence of supermarkets, restructured to offer more products where people could shop with carts. Opens first Toys R Us store in Rockland, Md.
1965
Geoffrey the giraffe mascot is introduced.
1966
Lazarus sells Toys R Us stores to Interstate Stores Inc., but he continues to manage the chain.
1973
Geoffrey products and TV commercial released.
1974
Interstate Stores files for bankruptcy, Lazarus appointed to run the 51-store chain.
1975
Geoffrey gets a wife, son and daughter.
1978
Toys R Us goes public.
1983
Chain launches clothing store Kids R Us.
1984
Stores open in Canada and Singapore.
1985
Geoffreymobile, a double-decker bus, introduced.
1990
Lazarus inducted into the Toy Industry Hall of Fame.
1992
Store opens in Japan.
1994
Lazarus steps down as chairman and CEO.
1996
First Babies R Us opens.
1997
Chain acquires Baby Superstore Inc. and converts 78 stores to Babies R Us.
1998
Toysrus.com is launched. New CEO Robert Nakasone.
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1999
Acquires competitor, educational and learning toy business, Imaginarium.
2000
Signs partnership deal with Amazon.com. New CEO, president: John Eyler.
2001
Opens flagship store in New York City’s Times Square. Geoffrey takes on life-like form.
2003
Closes Kids R Us locations.
2005
Company goes private in $7.5 billion deal. Bain Capital, KKR & Co. and Vornado Realty Trust loads the company with millions in debt.
2006
New CEO: Gerald Storch.
2007
Introduces express pop-up stores, obtains rights to operate FAO Schwarz, acquires eToys.com and Toys.com.
2010
Opens outlet locations, smaller format stores.
2011
Opens first stores in Beijing and introduces international shipping.
2013
New Interim CEO Antonio Urcelay.
2015
New CEO, Chairman David Brandon
Sept. 2017
Files for Chapter 11 bankruptcy, relieving the company of a $5.2 billion debt.
Jan. 2018
Announces it will close 180 stores.
March 14
Toys R Us tells employees they are closing all 800 U.S. stores, according to Washington Post sources. It’s likely to also liquidate its businesses in Australia, France, Poland, Portugal and Spain, according to the recording. It’s already shuttering its business in the United Kingdom.
Sources: Toys R Us, baiduhai reporting
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