Share this article

print logo

CORPORATE EARNINGS

Toys "R" Us, helped by stronger sales and lower overhead costs, saw its losses narrow in the third quarter, beating Wall Street projections. The 2 toy retailer reported a net loss of $28 million, or 13 cents per share, for the three months ended Nov. 2 compared with a net loss of $44 million, or 22 cents per share, in the year-ago period. Analysts surveyed by Thomson First Call expected a loss of 15 cents per share. The Paramus-based company said that despite a "very very tough" retail environment, it increased net sales by more than 4 percent, to $2.27 billion from $2.18 bil lion a year earlier. Sales edged up 1 percent to $1.24 billion in the company's key U.S. Toys "R" Us divi sion, but it still posted a $40 million operating loss. The international Toys "R" Us division and the Ba bies "R" Us unit posted double-digit revenue in creases and small operating profits. Toysrus.com, the division selling products online through the Ama zon.com Web site, posted a $12 million operating loss.

There are no comments - be the first to comment