The CEO of Toys “R” Us sounded an upbeat note on Thursday amid results that showed the chain cut its full-year net loss by more than half in fiscal 2015, and improved its adjusted earnings by 25%.
The net loss for the full year was $130 million versus a net loss of
$292 million in the prior year. In more good news for the retailer, its
adjusted earnings before interest, taxes, depreciation and amortization
were $800 million for the full year, up from $642 last year.
Net sales for the year were $11.8 billion, down $559 million from 2014.
The company said the decrease was partially due to a fluctuation in the
foreign exchange rates. Same-store sales rose by 0.9%. . . . more