STREAMING NOW: Watch Now

FAO Schwarz is making a comeback

FAO Schwarz is coming back.The toy store is opening new locations, including a new flagship in New Yo...

Posted: Oct 9, 2018 10:55 PM
Updated: Oct 9, 2018 10:55 PM

FAO Schwarz is coming back.

The toy store is opening new locations, including a new flagship in New York in November.

Continents and regions

New York (State)

New York City

North America

Northeastern United States

The Americas

United States

Business and industry sectors

Business, economy and trade

Consumer products

Toys and games

Companies

Toys "R" Us

Retail and wholesale trade

Specialty store

FAO Schwarz was famous for its Fifth Avenue store, where Tom Hanks and Robert Loggia performed "Heart and Soul" and "Chopsticks" on the floor piano in "Big." It closed the Fifth Avenue location in 2015.

Consumer products company ThreeSixty Group, which also owns Sharper Image, acquired FAO from Toys "R" Us in 2016.

Under its new owner, FAO plans to open airport stores, including at New York's LaGuardia Airport, and in Canada. It has also started selling inside Kohl's.

But its new 20,000-square-foot store at 30 Rockefeller Center in midtown Manhattan will be the company's top priority. The Wall Street Journal first reported the plans in August.

The store will be staffed with product demonstrators, magicians, and costumed actors as well as sales clerks, the Journal reported.

"Everything we are doing revolves around 30 Rock...That's the anchor," David Conn, CEO of ThreeSixty Brands, told CNBC on Tuesday.

Bob Phibbs, chief executive of New York-based consultancy the Retail Doctor, believes FAO's plan is flawed.

"Instead of developing a strategy that reaches younger shoppers, FAO Schwarz has chosen to tap into '80s nostalgia by featuring in-store spectacles. It's outdated and doesn't show a fundamental understanding of their customers," he said.

FAO will face tough competition from big retailers that have expanded their toy selections in recent months to fill the void left by Toys "R" Us' bankruptcy.

Target (TGT), which reported double-digit toy sales growth last quarter compared to a year ago, has been buying up extra toys.

"Given the strong affinity between families with young children and our brand, both toys and [baby] are key categories for us," Target CEO Brian Cornell told analysts in August. Toys "R" Us closures created "unique opportunities" to drive traffic and capture market share for Target, he said.

Walmart (WMT) has announced plans to increase its new toy selection in all stores by 30% and expand its website assortment by 40%.

It is bringing hundreds of exclusive brands to aisles and holding in-store toy demos. Walmart is also partnering with Ryan, a first-grade YouTube star, on "Ryan's World" — a line of toys he created.

Amazon (AMZN) is making a heavy push on toys, too.

"Amazon is gearing up to take disproportionate share this holiday season," Jefferies analyst Stephanie Wissink said in a report.

And FAO also isn't the only dead toy store brand attempting to revive itself.

Toys "R" Us said in a court filing last week that it is considering "a new, operating Toys 'R' Us and Babies 'R' Us branding company."

The plan would "create new, domestic, retail operating businesses under the Toys "R" Us and Babies "R" Us names, as well as expand its international presence and further develop its private brands business."

Huntsville
Mostly Cloudy
58° wxIcon
Hi: 71° Lo: 52°
Feels Like: 58°
Florence
Partly Cloudy
60° wxIcon
Hi: 69° Lo: 51°
Feels Like: 60°
Fayetteville
Partly Cloudy
60° wxIcon
Hi: 70° Lo: 48°
Feels Like: 60°
Decatur
Partly Cloudy
58° wxIcon
Hi: 70° Lo: 53°
Feels Like: 58°
Scottsboro
Partly Cloudy
60° wxIcon
Hi: 72° Lo: 54°
Feels Like: 60°
WAAY Radar
WAAY WAAY-TV Cam
WAAY Temperatures

 

Alabama Coronavirus Cases

Cases: 531094

Reported Deaths: 10978
CountyCasesDeaths
Jefferson765441522
Mobile40979804
Madison34763503
Tuscaloosa25781452
Montgomery24331589
Shelby23431249
Baldwin21135308
Lee15886171
Calhoun14505314
Morgan14300279
Etowah13834353
Marshall12222223
Houston10571281
Elmore10061205
Limestone9964151
Cullman9670193
St. Clair9657243
Lauderdale9428241
DeKalb8831186
Talladega8223176
Walker7236277
Autauga6920108
Jackson6813112
Blount6661137
Colbert6301134
Coffee5512119
Dale4831111
Russell441238
Chilton4294112
Franklin425682
Covington4121118
Tallapoosa4029152
Escambia393476
Chambers3563123
Dallas3551151
Clarke351061
Marion3119101
Pike310877
Lawrence300298
Winston274472
Bibb260764
Geneva250077
Marengo249764
Pickens234461
Barbour230857
Hale222977
Butler215969
Fayette212462
Henry188744
Cherokee184945
Randolph180241
Monroe177440
Washington167339
Macon159250
Clay156256
Crenshaw152357
Cleburne148941
Lamar142535
Lowndes138853
Wilcox127130
Bullock123041
Conecuh110529
Perry107726
Coosa107228
Sumter104532
Greene92334
Choctaw60624
Out of AL00
Unassigned00

Tennessee Coronavirus Cases

Cases: 854360

Reported Deaths: 12276
CountyCasesDeaths
Shelby959681622
Davidson89465938
Knox50796635
Hamilton44378495
Rutherford43100435
Williamson28040217
Sumner24052349
Montgomery20315227
Wilson18838235
Out of TN1842298
Unassigned17005134
Sullivan16846295
Blount15513193
Bradley15062150
Washington14623245
Maury13517172
Sevier13408175
Putnam11398175
Madison11185242
Robertson9768131
Anderson8768172
Hamblen8616173
Greene7889156
Tipton7371102
Coffee6911122
Dickson6841112
Cumberland6748133
Carter6639158
Gibson6533146
McMinn651898
Bedford6512129
Roane6302105
Jefferson6222124
Loudon614069
Hawkins6110107
Lawrence595387
Monroe585595
Warren554681
Dyer5429106
Franklin515490
Fayette509076
Cheatham455856
Obion454196
Cocke451199
Lincoln436663
Rhea435375
Marshall419958
Campbell415763
Weakley414765
Giles3999100
Henderson379576
White366070
Carroll362283
Macon362278
Hardin357868
Hardeman352964
Lauderdale319644
Henry319376
Claiborne318173
Scott313645
Marion312847
Overton301661
Wayne296234
Hickman284446
McNairy282554
DeKalb280354
Smith277939
Haywood271462
Grainger263050
Morgan250239
Trousdale250222
Fentress242347
Johnson240939
Chester214851
Bledsoe214611
Polk208224
Unicoi204249
Crockett203248
Cannon192331
Union190734
Humphreys180327
Grundy179334
Lake170426
Sequatchie170229
Benton166740
Decatur158939
Lewis158226
Meigs139025
Stewart132528
Jackson132336
Clay110331
Houston109533
Perry106728
Moore101217
Van Buren84823
Pickett76024
Hancock59112

Community Events