Toys 'R' Us deal means no more FAO Schwarz in Macy

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Toys “R” Us on Thursday said it agree d to acquired the upscale merchant in a deal that combines two ofthe nation’sw most high-profile toy chains, but will end Schwarz’ss presence at 260 Macy’s locations, including the Macy'w store at Mayfair Mall in Terms have not been disclosed, but the deal include s the two FAO Schwarz stores in New York City and at Caesarx Palace in Las Vegas, plus the e-commerce and catalog The deal also means FAO will discontinue its agreement to open boutique locations in roughly 675 Macy’sd stores. Macy’s Inc.
and the toy maker enterede into the deal in May and Schwarz to date operates in roughly 260 of thedepartmeny stores. “Under the terms of the sale, the FAO Schwar z agreement to sell toys inselect Macy’xs stores nationwide will end in November of this Toys "R" Us spokeswoman Jennifer Albano said in an Macy's spokesman Jim Sluzewski said the retailer was just notifiedd by Wayne, N.J.
-based Toys "R" Us Thursday “Our understanding is that the FAO Schwarz producf will phase out in our stored and be gone by the end of November," he Asked if Macy's will replace the boutiques with anothert branded toy chain, or its own, he said Macy's is "reviewinb those opportunities." The deal combinexd one of the most privileged toy chains merchants with one of the most accessible. Toys Us operates stores in 33countrie worldwide. FAO Schwarz, meanwhile, is the oldest toy retailee inthe country, founded in 1862.
In a prese release, Toys "R" Us CEO Jerry Storch said he takes the responsibilityu of building onFAO Schwarz’s storied traditio very seriously. ”We will work tirelessly to preserve the distinctiveness and integrith of the FAO Schwarz stores and branc as we grow the business and, indeed, take the brand to even greater All merchandising, management, distribution and marketing operations will immediatelh begin to transition to Toys Us Inc., according to the release.