NEW YORK — Toys “R” Us Inc., after years of losing ground to online rivals and discount chains, plans to revamp its stores to be places where kids come to play.
The company, taken private almost a decade ago by Bain Capital Partners, KKR & Co. and Vornado Realty Trust, will open a new prototype store this year, CEO Antonio Urcelay said Tuesday. The eventual goal is to make all of its locations more engaging places for children than Walmart or Target, he said.
The company will add more technology for kids to interact with, and additional floor space will be devoted to play areas.
That, in turn, may coax parents into doing more shopping at the stores.
It also will decrease the need to compete on price in a cutthroat toy industry.
“It has to be something where kids want to go and play,” said Urcelay, promoted to CEO in October 2013 after running the company’s European division. “We have to reinforce that we are a specialist.”
