KB Toys plans store closures
By Staff -- Gifts and Dec, 8/31/2007 9:34:00 AM
PITTSFIELD, Mass.—KB Toys will close at least 30 stores in the coming months as the toy retailer looks to return to its roots as a purveyor of primarily close out merchandise under new president and CEO Andrew Bailen.
In an interview this week with the Berkshire Eagle, a Massachusetts newspaper, Bailen said KB plans to shutter “more than 30” of its stores, based on profitability, out of its current chain of 566 locations in malls and strip centers nationwide. He told the paper that he expects to have a better picture of how many locations to close by the end of October. Bailen also said the company will cut staff at its headquarters.
The moves are meant to “make this company great again,” Bailen said of what he is calling a “shrink to grow” strategy. He rebuffed questions that he was steering KB towards liquidation. “I have zero interest in any type of liquidation,” he told the newspaper.
According to the story, KB will look to once again stress to consumers its stores as an inexpensive toy shopping alternative. Starting next week its windows will feature signage simply touting the word “value.”
Bailen’s strategy is a shift from KB’s post-bankruptcy efforts to reposition itself under former CEO Gregory Staley, a period during which the retailer launched a merchandising strategy centered on a deeper selection of first-line product, displays tied to promotional efforts surrounding hot children’s properties and major toy brands and upgrades to the stores’ aesthetics.
Bailen joined KB this summer. He most recently served as president of art supplies maker Loew-Cornell, Englewood Cliffs, N.J. He worked for KB Toys from 1978 to 1987.
I can tell you the ceo Andy Bailen was a bad choice for KB, do you know how many DM were going to resign because of him,if he didnt like you personally he would send loss prevention in the store and the will question you about stealing and send you home without any prof, they would tell you they have these little cameras hidden ,give me a break
mike hertz - 2009-02-10 03:23:00 EST
You are absolutly correct (the truth) Ever since they tried branding the stores its been down hill. How can you be a neighborhood store when a store in Texas has to be the same as New York? The only mid-management they kept were "yes" men or women. They would always think that the next idea was the best even if it didn't work years prior. How would the CEOs know, they didn't listen. Anyone that tried to tell upper managment what was really going on had a bad attitude and was eventually let go. Mabe that is what a person needs to do to survive the work place but its not always the best for business. If anyone is to blame it would be Prentice for hiring inept CEOs who didn't understand the niche that KB was. They always tried to make the stores something they weren't.
another ex-emplyee - 2008-12-15 13:35:00 EST
The problem with Kb toys and I said it all along...they needed to carry what the customer wants! Period! the Hot toys! not the junk that comes off the truck every week. How many times do you tell a customer we dont have something Vs. Oh yes! we do have it??? Hardly ever!! The buyers are Morons! (thats a fact by other sources) How about visiting a Toy show/Fair or pick up some toy magazines and find out whats out there to buy? You could of been the toy and hobby shop that you were suppose to be (once were) if you listened to your guests and Managers for once.
Same with the video games we carried that didnt sell well at all!! When are you gonna learn??? people dont want old games and toys from 1994...the buyers, buying closeout toys is truely what killed the company. Yeah the economy might be bad, but once again if you carried what people wanted...you'd might still have a fighting chance.I can take a crap on the floor and try to sell it, but doesnt mean it will sell!!
Its a true shame! Now we can sit back and watch other stores close till you have no choice but to shop at Walmart Only! (Yes, this will happen)
the truth - 2008-12-14 22:36:00 EST
Same with the video games we carried that didnt sell well at all!! When are you gonna learn??? people dont want old games and toys from 1994...the buyers, buying closeout toys is truely what killed the company. Yeah the economy might be bad, but once again if you carried what people wanted...you'd might still have a fighting chance.I can take a crap on the floor and try to sell it, but doesnt mean it will sell!!
Its a true shame! Now we can sit back and watch other stores close till you have no choice but to shop at Walmart Only! (Yes, this will happen)
I started working for Kay-Bee Toy and Hobbies in 1985. I never thought this day would come. It's pointless to play the blame game now. I feel sick inside and my heart goes out to ALL the employees- from management down to the p.t. stock clerk. KB Toys had a great history and so much potential. I often wished I could buy a franchise from them as I now live in an area that never had KB Toys, yet so many people in the the region wished there was one.
Alas, all good things must end. I just never thought it would end like this. I always hoped to go back and pick up where my career left off, but now that won't happen.
The KB family is in mourning, and I share your grief.
James Jensen - 2008-12-12 06:03:00 EST
Alas, all good things must end. I just never thought it would end like this. I always hoped to go back and pick up where my career left off, but now that won't happen.
The KB family is in mourning, and I share your grief.
Andy,
Wow your answer to Melissa was COLD, you say this, so matter of fact as who cares, i see now why they are going under, i like how you put all kb will be in the DARK in capital letters, SORRY TO BURST YOUR BUBBLE BUT YOUR COLD
MIKE HERTZ - 2008-12-11 14:51:00 EST
Wow your answer to Melissa was COLD, you say this, so matter of fact as who cares, i see now why they are going under, i like how you put all kb will be in the DARK in capital letters, SORRY TO BURST YOUR BUBBLE BUT YOUR COLD
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