TOYS R US: Q1 revenues up

Foreign currency gains and new stores see Q1 revenues rise.
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The retailer reported an increase of revenues of 5.3 per cent or $138 million to $2.7 billion. However, quarterly earnings dipped by 2.5 per cent to $114 million.

Foreign currency translation of $109 million, the addition of 16 new stores in the firm’s international and Babies R US and higher online sales saw net sales increase for the 13-week period ending May 3rd 2008.

US net sales increased by 1.2 per cent or $12 million to $1.03 billion. Worldwide, the retailer currently has 1,530 wholly owned stores.

International net sales soared by 11 per cent or $100 million to just over $1 billion. Excluding the $109 million in foreign currency translation, net sales actually decreased due to a drop in comparable store net sales of 4.1 per cent. This was offset by increased net sales of 11 new stores.

(Source: Playthings)

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