FAO Schwarz renews lease for five years

July 12, 2011 5:38:32 AM PDT
Scanning the aisles of FAO Schwarz is a holiday tradition for many New Yorkers and tourists alike, and now the retailer has announced it is staying put.

The famed toy store has renewed its lease on Fifth Avenue for the next five years.

FAO Schwarz is owned by Toys R Us.