End of an Era

Earlier this morning, it was announced that Toys R Us will be acquiring FAO Schwarz, one of the nation's oldest toy retailers, which opened in 1862 and was immortalized by Tom Hanks in the hit movie Big.

According to Toys R Us CEO Jerry Storch, Toys R Us will continue to operate FAO Schwarz's flagship store in New York City as well as a second store at Caesar's Palace in Las Vegas: "We will work tirelessly to preserve the distinctiveness and integrity of the FAO Schwarz stores and brand."

"Keeping the FAO Schwarz brand to stand for what it is, an iconic specialty toy store, is the important thing," for Toys R US, he said.

In the long run, this purchase should improve FAO Schwarz and return the store to its once iconic status. But at the same time, I find it quite upsetting that Toys R Us now owns New York's greatest toy store.

I still remember my first time at FAO Schwarz on Fifth Avenue. After eating at the old Houlihan's (currently the Apple store), I stood in line with my parents, anxiously waiting to pass by the toy soldiers. I remember the enormous clock. And the robotic elevator. The piano. And the massive candy room. In my opinion, it was -- and still is -- one of the most magical stores in the entire world. Hopefully, Toys R Us will make sure that it remains this way!