Richard Barry, CEO of Toys "R" Us parent Tru Kids, told CNBC his company teamed up with Target because of its robust supply chain (it offers same-day delivery across the US) and strong toy business. It's not clear how revenue will be divided between the two sides.

The new website is about a little more than just shopping. It features toy reviews and guides, such as suggestions of gifts to get that Fortnite fanatic in your life, along with videos and printable activities.

With the Target deal, Toys "R" Us has a partner that should be capable of handling the logistics of online orders while it tries to rebuild its retail business. The brand rose from bankruptcy in January and started to open stores in the US once again this summer. It closed all of its US and UK locations last year.