Company History
Charles Lazarus initially started Children's Supermart (which would evolve into Toys"R"Us) in Washington, DC during the post-war baby boom era in 1948 as a baby-furniture retailer. Its first location was at 2461 18th St, NW, where the nightclub Madam's Organ Blues Bar is located. Lazarus began receiving requests from customers for baby toys. After adding baby toys, he got requests for toys for older children. The focus of the store changed in 1957, and Toys"R"Us was born in Rockville, Maryland. Toys"R"Us was acquired in 1966 by Interstate Department Stores, owner of the White Front, Topps and Children's Bargain Town USA, a sister toy-store chain to Toys "R" Us in the American Midwest that would later be re-branded as part of the Toys"R"Us chain. The original Toys "R" Us store design in the 1970s and 1980s consisted of vertical rainbow stripes and a brown roof with a front entrance and side exit. Some brown-roof locations still exist, although some have been painted different colors or renovated.
To improve the company, the board of directors installed John Eyler (formerly of FAO Schwarz). Eyler launched an unsuccessful, expensive plan to remodel and re-launch the chain. Blaming market pressures (primarily competition from Wal-Mart and Target), Toys"R"Us considered splitting its toy and baby businesses. On July 21, 2005 a consortium of Bain Capital Partners LLC, Kohlberg Kravis Roberts & Co. (KKR) and Vornado Realty Trust invested $1.3 billion to complete a $6.6 billion leveraged buyout of the company. Public stock closed for the last time at $26.74—pennies from the 68-week high, but far short of its all-time high of almost $45 in fourth-quarter 1993 and its five-year high of $31 in 2Q 2001. Toys"R"Us is now a privately owned entity. However, the company still files with the Securities and Exchange Commission (as required by its debt agreements).
On September 24, 2012, Toys"R"Us is being sued by FuHu Inc. because they claim that Toys"R"Us attempted to copy Nabi and stole their trade secrets.
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