Toys R Us reports Q2 store net sales increase of 3.3 per cent - ToyNews

Toys R Us reports Q2 store net sales increase of 3.3 per cent

The toy giant has now posted its sixth consecutive quarter of improvement.
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Toys R Us has revealed a sixth consecutive quarter of improvement, with an increase in store net sales of 3.3 per cent.

The toy retail giant has seen a surge in domestic operating earnings of $57 million, totaling $78 million in its financial results for the second quarter ended August 1st, 2015.

Meanwhile, consolidated net sales have seen a decrease of $147 million, totaling $2,293 million compared to the prior year period.

International comparable store net sales were up 3.3 per cent primarily driven by increases in the learning, baby and core toy categories, partially offset by a decrease in the retailer’s entertainment category.

While core toy category sales increased, Toy R Us experienced declines in the baby, entertainment and seasonal categories.

Crucially, net loss was at $99 million, compared to a net loss of $148 million in the prior year, marking an improvement of $49 million.

Dave Brandon, chairman and chief executive officer, Toys R Us, said: “In the two months I have been here, I have been impressed with the work done by the team to right-size the cost structure and position the company for growth.

“Now, the focus turns to solidifying our roadmap for the future and ensuring we have the right talent and structure in place to move quickly.

“I am excited to be here and confident in our ultimate success.”

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