Friday, March 11, 2016

Toys 'R' Us makes progress on turnaround

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

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