Ocean State Job Lot Acquires 7 Closed Toys 'R' Us Stores
NORTH KINGSTON, R.I. (CBS) – Ocean State Job Lot is moving in to several shuttered Toys "R" Us locations. The Rhode Island-based discount retailer said Tuesday it has bought or leased seven former toy stores in Massachusetts, New Hampshire, New York and Pennsylvania.
In Massachusetts, Ocean State Job lot purchased a former Toys "R" Us location at 105 Campanelli Industrial Drive in Brockton and has leased the old store space at 492 State Road in North Dartmouth. Ocean State Job Lot also plans to open a new store at the closed Toys "R" Us in Salem, New Hampshire.
"The recent closure of Toys "R" Us retail stores has allowed Ocean State Job Lot to acquire seven outstanding locations at an extraordinary price," said CEO Marc Perlman in a statement. "In an ever-changing retail environment where many retailers are struggling, Ocean State Job Lot has been able to adapt, enter new markets, re-open closed storefronts, and create new job opportunities."
The other Ocean State Job Lot stores will be opening at former Toys "R" Us locations in Nanuet, New York and Montgomeryville, Scranton and Wilkes-Barre, Pennsylvania.
Ocean State Job Lot currently has 133 stores and about 5,000 employees in New England, New York and New Jersey.
"The Toys "R" Us locations make sense for us," Perlman said. "They are expansive, with an average footprint of 40,000 square feet, and will allow us to offer our customers a fantastic overall shopping experience."
The new stores are expected to open sometime in 2019.