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Walmart, Target and a host of other retailers are working to take up the slack left by the closure of Toys ‘R’ Us, increasing orders for toys and expanding their toy aisles, The New York Post reports.
Toys ‘R’ Us generated some $11.5 billion in sales in 2016. The last of its stores are scheduled to close in July. Walmart has identified 800 stores that are within a five-to-10-mile radius of a Toys ‘R’ Us and will be stockpiling more toys for those locations. Target, for its part, is adding more space for toys at its stores, according to the newspaper.
“There’s a lot of scrambling going on right now,” Bernardo Melo, vice president of global sales and marketing for Singing Machine, which sells karaoke systems, told the paper.
By Edmund Mander
Director, Editor-In-Chief/SCT