TRU rejigs results

Toys R Us adjusts results after finding errors in its income tax reporting.
Publish date:
Social count:

The firm said in a regulatory statement that it had changed the accounting method for valuing its international wholly-owned subsidiaries’ merchandise inventories from the retail inventory method to the weighted average cost method.

"In the fourth quarter of fiscal 2006, we identified errors in the way we had previously accounted for income taxes," the firm said in a statement. "We did not properly record deferred tax accounts on a net basis by legal entity and taxing jurisdiction. As a result, we have restated the accompanying Condensed Consolidated Balance Sheet as of July 29, 2006."

Toys R Us restated net sales and expenses to reflect increases of $19 million and $35 million for the quarter and fiscal year ending July 29th, respectively.



TRU boss stepping down

Toys R Us has confirmed that chief executive John Eyler and its COO, Chris Kay, will step down when the company is acquired by private investors.


Flair/Schleich win TRU awards

Toys R Us has awarded its annual Vendor of the Year Awards in the Toy, Babies, Consumer Electronics categories, plus two new categories - Supplier of the Year and Special Consistency Awards -  with Flair winning the Toy award and Schleich supplier of the year.

Featured Jobs

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.


UK Sales Agents

Liberty House Toys have been appointed as the exclusive UK distributor for the BiOBUDDi brand, and we are pleased to introduce this new unique, innovative and exciting range of 100% environmentally-friendly toy building blocks. We are seeking experienced sales agents with existing network in the toy retail market.

Gameplan Job Logo 620 x 349

Head of Product Development & Marketing

Our client is a privately owned French toy and games manufacturer which sells through distributors in forty countries. The company develops and sells innovative electronic interactive toys and games for the educational and gaming markets, and also takes suitable licenses. To progress its successful business development a Head of Product Development & Marketing is to to recruited.

HIT Entertainment Job Logo 620 x 349

Licensing Systems Administrator

The Contract System Coordinator is a newly created role to support the deal term entry process into Mattel’s new Contract Management System for its Licensing business. The role will support the Business Teams at the Deal & Amendment phase of the contracting process and act in conjunction with the System Administration team.