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Well, obviously you began in a very bad economy so that is part of the problem. This year should be a little better, and each year after that. Are you aware of how Black Friday (the day after Thanksgiving) got it's name? Because for many retailers that is the first day they make it to operating 'in the black' for the entire year. You have to think outside the box in a bad economy.
Think about adding online sales if you don't do that already. Or even sell some of your excess inventory on Ebay. Talk to other retailers in your area (not those who sell children's clothing because they may not want to help a competitor) about what promotions have been the most successful for them.
Promoting a business takes a lot of work, especially in a bad economy. In my profile, you will find my website which has a section called 'Promote It' which offers pages full of free ideas. Make sure you are not carrying too much inventory. In this day and age, you can get replacements in a couple of days so don't tie up too much cash in your stock.
Think about looking for other vendors to rent little spaces in your shop. Maybe a custom toy maker, children's jewlery maker; things like that. It's inventory you don't have to buy and it pays part of the rent.