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Toys 'R' Us tallies larger loss in Q3

By Staff -- Gifts and Dec, 12/15/2008 7:56:00 PM

WAYNE, N.J.—Toys ‘R’ Us recorded a larger loss in its recently completed third-quarter, hampered by declining same-store sales and unfavorable currency exchanges.

The retailer’s net loss was $104 million, up from $76 million in the corresponding period of 2007.

Revenue for the three months ended on Nov. 1, 2008, fell fractionally to $2.77 billion, as a $26 million (1.6 percent) increase in sales from TRU’s Domestic division—which now includes the combined efforts of both Toys ‘R’ Us and Babies ‘R’ Us stores as a result of the increasing number of joint TRU-BRU stores, along with domestic Internet sales—was offset by a $34 million slip in same-store sales for its International unit. Same-store sales companywide slipped 0.3 percent. Domestic same-store sales were off 0.2 percent, a decline attributed in part to decreased demand for core toy and learning products.

Internet net sales were said to have risen on demand for entertainment and juvenile products.

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