Friday, December 22, 2017

Troubles mount at Toys ‘R’ Us

The third quarter brought no relief to the nation’s largest toy store retailer.

Toys “R” Us’ loss rose to $624 million for the period ended Oct. 28, up from $160 million in the year-ago period.

Revenue fell 7.5% to $2.1 billion. Total same store sales decreased 4.4%, driven by a 7.0% decline domestically. Same-store sales at international stores rose 0.4%, as a result of growth in Asia.

Toys “R” Us, which filed for bankruptcy in September, released its quarterly metrics amid a report that it is preparing to close 100 or more stores. Chairman and CEO Dave Brandon called the results “disappointing. . . more

No comments: