Dive Brief:
A little over a year after a reconstituted Toys R Us opened two brick-and-mortar stores to much fanfare, the toy seller is now permanently closing the stores, according to multiple media reports.
The stores, opened in the fall of 2019, were a joint venture between Tru Kids, owner of the Toys R Us intellectual property, and b8ta. Tru Kids did not immediately respond to a request for comment. As a result of COVID, we made the strategic decision to pivot our store strategy to new locations and platforms that have better traffic, Tru Kids told the Associated Press in a statement. Consumer demand in the toy category and for Toys R Us remains strong and we will continue to invest in the channels where the customer wants to experience our brand.