*Toysmart.com Doesn't Live Up to Name, Closes Shop

Share this article:
Toysmart.com is closing its doors for good, a senior company executive who refused to be named confirmed yesterday.


The online retailer succumbed after majority owner Walt Disney Co. decided late last week not to inject extra funds to reposition toysmart and keep it as a going concern. About 110 workers at the company will lose their jobs.


Toysmart's demise follows the high-profile failure last week of boo.com, a multinational online retailer of trendy sportswear apparel and accessories that could fulfill orders in 18 European and North American markets. Boo's shareholders again refused additional financial support.


But the online toy retailing business has been hard hit. It was only recently that Kbkids.com fired a large chunk of its staff, including the vice presidents of marketing and merchandising.


And earlier this month, media company Viacom shut down Red Rocket, an online retailer of educational toys.


Visitors to the toysmart site yesterday were greeted with this note: "toysmart.com is closed this weekend for inventory."
Share this article:
close

Next Article in Digital Marketing

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

News Byte: CX Scores to Take Their Place Beside Price Listings

News Byte: CX Scores to Take Their Place ...

E-commerce aggregator PriceGrabber will begin offsetting price info with service expectations.

Data Byte: Interactive Ad Revenues Exceeding TV for the First Time

Data Byte: Interactive Ad Revenues Exceeding TV for ...

At nearly $43 billion, interactive advertising revenues exceeded broadcast for the first time in 2013.

Marketers: Data Rich and Knowledge Poor

Marketers: Data Rich and Knowledge Poor

While advertisers have become incredibly data-savvy, the most difficult challenge remains causally linking that data to outcomes that really matter.