Toy market news

Macy’s toy sales double in early days of Toys ‘R’ Us partnership

Geoffrey the Giraffe is helping to move some toys in the U.S. again

While the big return for Toys “R” Us (TRU) is being planned for next year when experiential, TRU-branded toy departments will open in more than 400 Macy’s stores, early results are looking good. During its third quarter earnings call yesterday morning, Macy’s Chairman and CEO Jeff Gennette explained that toys and games are helping to fill the gap on “occasion-based” shopping opportunities that Macy’s has missed in recent years. This is helping to grow foot traffic in Macy’s stores while simultaneously growing the digital and omnichannel business as families shop for birthday and holiday gifts.

As the company looks ahead, it’s aiming bigger than simply being another outlet to buy toys as it targets millennial parents.

“We do believe we can be the premier brick-and-mortar destination for toys in America,” Gennette says.

Thus far, the Macy’s x TRU pairing has ushered in the return of the annual toy catalog and Geoffrey’s Hot Toy List in addition to new initiatives such as livestream shopping events. An increased assortment of toys can already be found in many Macy’s stores, including its Herald Square flagship in New York City.

toybook.com