Toys 'R' Us tallies larger loss in Q3
By Staff -- Playthings, 12/15/2008 7:56:00 PM
WAYNE, N.J.—Toys ‘R’ Us recorded a larger loss in its recently completed third-quarter, hampered by declining same-store sales and unfavorable currency exchanges.
The retailer’s net loss was $104 million, up from $76 million in the corresponding period of 2007.
Revenue for the three months ended on Nov. 1, 2008, fell fractionally to $2.77 billion, as a $26 million (1.6 percent) increase in sales from TRU’s Domestic division—which now includes the combined efforts of both Toys ‘R’ Us and Babies ‘R’ Us stores as a result of the increasing number of joint TRU-BRU stores, along with domestic Internet sales—was offset by a $34 million slip in same-store sales for its International unit. Same-store sales companywide slipped 0.3 percent. Domestic same-store sales were off 0.2 percent, a decline attributed in part to decreased demand for core toy and learning products.
Internet net sales were said to have risen on demand for entertainment and juvenile products.
Featured Company
-
Red Gold, Inc.
Red Gold, LLC is one of America's largest producers of tomato products. Offering premium quality ketchup, tomatoes and tomato juice at a more affordable price than other national brands, Red Gold is the right choice for today's foodservice economy. Red Gold... more
