DENVER BUSINESS JOURNAL — An "arms race" in the toy industry is underway.
That's according to Moody's analyst Charlie O'Shea, who noted Best Buy's recent decision to ramp up its efforts in the toy market.
"It's a sensible strategic move for Best Buy," O'Shea told CNN, citing the Richfield, Minnesota-based company's (NYSE: BBY) plan to grow toy inventory at its more than 1,300 US stores.
But Best Buy, known for household electronics, isn't the only company looking to elbow its way into the market.
At least a half dozen other retailers are trying to carve out a portion of the $10.5 billion in toy sales left behind when Wayne, New Jersey-based Toys R Us went bankrupt.
Read more at the Denver Business Journal: https://bit.ly/2qiGiDl
