Children across the world declared themselves a “Toys R Us kid.” Parents spent their weekend mornings walking their kids up and down its aisles. Planners visited to stock up, preparing for months of birthday parties.
“I bought all their presents and bikes from there,” recalled Angela Corrigan, a New Jersey mom with two kids in college. “I remember the last time I walked in there … I just walked in by myself and walked down the aisles feeling overwhelmed with emotions because my kids were too old for the store and our ritual was over.”
Eventually, in 1994, Lazarus passed the baton as CEO to Michael Goldstein, known for his adoration of toys that imbued his interaction with toymakers and store patrons.
“Goldstein got to know nearly every start-up manufacturer and both he and Toys R Us wanted them to be successful,” said Bob Moog, co-founder of toy company University Games.
“Most companies, more than 10 years old, wouldn’t be in business today it wasn’t for Toys R Us, the first national account to give them a chance.”
But Goldstein’s tenure was brief. He stepped down in 1998, leading the way to a revolving door of executives which included Robert Nakasone, who came from the grocery industry, and John Eyler, who came from FAO Schwarz.
All the while Toys R Us added stores, emboldened by its position as the most important toy store in town. It did not take care of that store base though, neither pruning stores that weren’t making money, nor putting resources toward those that were.
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