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Mark Lennihan/AP
Chairman and CEO of Toys "R" Us Gerald Storch

Stores Reduce Toy Prices Before Holiday Season

October 03, 2008 08:58 AM
by Emily Coakley
Some retailers plan to reduce toy prices this winter, as one industry executive predicts that despite economic concerns, toys will have a good holiday season.

Toy Outlook Good, One Executive Says

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Despite the crisis on Wall Street and its potential effects on Main Street, the toy industry is optimistic about the coming Christmas season.

“Last year was a tough year for most retailers but we had a great year, and I believe we’re going to do fine this year as well,” said Toys R Us’s chief executive officer, Gerald Storch, in an interview with the Bergen County, N.J., paper The Record. 

But some retailers have taken an extra step toward insuring a good season, and announced plans to cut some toys’ prices.
After Wal-Mart and Target announced plans to make toys more affordable this holiday season, KB Toys announced Thursday that “more than 200 toy prices have been cut to $10 or less, including Crayola craft kits, NFL and MLB action figures and some Fisher-Price preschool toys,” the Associated Press reported.

In other toy-related news, Reuters reports that night vision goggles, Elmo and a lifelike toy puppy are expected to be among the season’s hottest toys.

Related Topics: Lead in toys; Toys Web Guide; American-made toys

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