FAO Schwarz’s Parent May Sell Chain

FAO Schwarz, the pricey toy retailer made famous by its luxe New York City store, may be put on the auction block, its Dutch parent said. Vendex, which has owned the company for a little more than a year, said it is working on ways to improve earnings at the toy chain, including a new online sales effort, but has not ruled out a sale. The Dutch company said profit at FAO Schwarz dropped sharply over the fiscal year even as sales rose to $197 million, from $181 million in the year-earlier period.