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Toys R Us reports sales growth and net losses in first quarter - ToyNews

Toys R Us reports sales growth and net losses in first quarter

The firm achieved an increase in sales of 2.9 per cent, totaling $2.5 billion. However, the increases run alongside a net loss of $196 million.
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Toys R Us reports an increase of its domestic and international sales in its financial results for the first quarter 2014.

The firm achieved an increase in sales of 2.9 per cent, totaling $2.5 billion.

However, the increases run alongside a net loss of $196 million.

Domestic net sales for the toy giant rose by four per cent, driven largely by the increases in the learning, entertainment and core toy categories.

International comparable net sales also saw a rise, with a one per cent increase attributed to growth in the seasonal and baby product categories.

Antonio Urcelay, chairman of the board of director and chief executive officer, Toys R Us Inc, said: “We are pleased to have delivered positive comparable store net sales results both in our US and international segments.

“As we continue to work to improve operating margins, we have begun the process of developing a clearer pricing strategy.

“As we continue to work to identify areas for cost structure improvement, we incurred certain upfront costs which increased our operating expenses during the first quarter.

‘We believe these short-term costs will benefit the business in the long-term.”

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