Toys ‘R’ Us just announced that it has acquired financially ailing toy store icon F.A.O. Schwarz. While it has only a couple of locations (at Fifth Avenue in New York City and at Caesar’s Palace in Las Vegas), F.A.O. Schwarz is 145 years old and its flagship Manhattan store draws in millions of visitors each year. This makes F.A.O. Schwarz an historical gem in the Toys ‘R’ Us crown. During the fourth quarter of last year, cost cutting measures gave Toys ‘R’ Us an 11% rise in profits even as sales declined.
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