TOYING WITH IPO

While the rest of us were mentally on vacation Friday, Toys "R" Us announced its long-awaited IPO to raise up to $800M in an initial stock offering. That's nearly five years after a JV of Vornado Realty Trust, Bain Capital Partners, and Kohlberg Kravis Roberts & Co. acquired the company for $6.6B and took it private.
Here's VNO CEO Mike Fascitelli from the Bisnow archives. We think he's still smiling, given that April 13 the REIT announced its 32.7% share of Toys "R" Us resulted in 1Q net income of $125.8M, up from $97.1M in 1Q '09. Plus five out of 12 analysts currently cited byMarketwatch have "buy" recommendations on VNO, six say "hold" and just one, "sell." The retailer (NYSE ticker to be: TOYS) sells merchandise in more than 1.5k stores—licensed and franchised— with 849 Toys "R" Us and Babies "R" Us locations in the US. Two of its most trafficked stores are in NYC: its international flagship Toys "R" Us Times Square and FAO Schwartz's flagship store on Fifth Avenue. In the fiscal year ending Jan.30, the company generated net sales of $13.6B.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Atlanta Newsletters
Related Stories

Texas Flips Blue, Putting Data Center Boom On Notice

Hynes Vows To Bring Property Tax Stability As New Cook County Assessor

Donalds Makes History With Win For Florida Governor, Voters OK Property Tax Amendment

Bottoms Wins Georgia Governor's Race With Pledge To Boost Affordable Housing

Piedmont Realty Exiting Houston Market With Office Dispositions

Supertall Assemblage Comes Together At Long-Vacant Midtown Site: The N.Y. Deal Sheet

Fannie Mae, Freddie Mac Rewrite Underwriting Standards For NYC's Rent Freeze

Banks Are Manhattan's Latest Hot Retail Tenant

The Geo Group To Reopen 2,329-Bed Immigration Facility In Texas

What's At Stake For CRE In Tuesday's U.S. Midterm

Dan Wagner To Head Lee & Associates In Atlanta: The Atlanta Deal Sheet

RXR Marketing Executive Lauren Maturo Dies At 32