11:52 h / 2022/08/24
US retailer Macy’s made the ambitious statement when it reported its second-quarter earnings earlier this week.
By the middle of October, all 500 Macy’s stores in the US are due to feature Toys R Us in store areas, which will range in size from 1,000 to 10,000 square feet. A life-size Geoffrey the Giraffe, the iconic Toys R Us mascot, will be on display to provide a photo opportunity for parents and kids.
Initially, Macy’s wasn’t intending to introduce Toys R Us areas across its entire chain. However, in July, the retailer announced that it would be opening concessions within all its stores, in addition to its handful of small-format Market by Macy’s locations.
Macy’s CEO Jeff Gennette told Wall Street analysts: “Toys is a huge opportunity for us with a fair-share market opportunity of $1b in annual sales.” Given the fact that total US toy sales came in at just over $38b last year, that could be construed by some as a bold and optiomistic target.