Toys "R" Us Posts Net Profit; Comps Down 7.7%
NEW YORK -- Toys “R” Us, which is considering getting out of the toy business, on Monday posted a 2Q net profit, reversing a year-earlier loss, as it works to restructure its toy stores, according to a Reuters report.
The Wayne, NJ-based retailer posted a profit of
$61 million for the quarter, compared with a loss of $11 million a year earlier.
Toys “R” Us posted an operating loss of $192 million, compared with operating earnings of $14 million a year earlier.
The operating loss in the latest quarter included pre-tax charges of $228 million.
Toys “R” Us said 2Q sales fell 3.9% to $2.0 billion. Comp sales at U.S. stores fell 7.7%.
Same-store sales at international toy stores were up 1.7% in local-currency terms.
Earlier this month, Toys “R” Us said it is considering selling its toy business to focus on its faster-growing Babies “R” Us unit. It said it plans to separate the ownership of the two businesses.
Babies “R” Us same-store sales rose 1.8% in the second quarter. Sales at Toysrus.com were flat.
The Wayne, NJ-based retailer posted a profit of
Toys “R” Us posted an operating loss of $192 million, compared with operating earnings of $14 million a year earlier.
The operating loss in the latest quarter included pre-tax charges of $228 million.
Toys “R” Us said 2Q sales fell 3.9% to $2.0 billion. Comp sales at U.S. stores fell 7.7%.
Same-store sales at international toy stores were up 1.7% in local-currency terms.
Earlier this month, Toys “R” Us said it is considering selling its toy business to focus on its faster-growing Babies “R” Us unit. It said it plans to separate the ownership of the two businesses.
Babies “R” Us same-store sales rose 1.8% in the second quarter. Sales at Toysrus.com were flat.
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