Party City isn't toying around
Party City is aiming to fill the gaps left by the demise of Toys “R” Us.
The retailer plans to open about 50 “Toy City” pop-up stores this year as Toys “R” Us closes its last stores.
Other companies, such as Wal-mart, Target, Barnes & Noble and Five Below, are also hoping to capitalize on the fall of Toys 'R' Us as well, as toy vendors look for venues to distribute their merchandise.
"Throughout the retail reporting cycle, we've heard from a number of large and mid-sized retail chains that they expect to step in to compete in toys in a more meaningful way post-TRU," Jefferies analyst Stephanie Wissink said in a recent note to clients. Wissink then added that she expects more than 75 percent of Toys “R” Us’ annual share of the toy industry to be “reclaimed,” as other retailers begin to determine their strategies.
Party City stated that it plans for it’s pop-up stores for toys will open in September and continue through the holiday season.
"The creation of a Toy City concept to complement our temporary seasonal retail strategy is a logical extension of our brand; one that will allow us to leverage our existing pop-up store capabilities and capitalize on the category whitespace that has recently been created," Party City CEO James Harrison said in a statement.