Toys R Us sees Q4 sales slip due to currency jam - ToyNews

Toys R Us sees Q4 sales slip due to currency jam

Revenue dips 2.6 per cent in its Q4 2015 results, with foreign exchange rates making a negative impact to the tune of $169 million.
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Toys R Us has seen revenue slip 2.6 per cent in its Q4 2015 results, with foreign exchange rates making a negative impact to the tune of $169 million.

This was offset partially by a rise of same store sales of 2.3 per cent in the fourth quarter ending January 30th 2016.

For the full year however, the same stores sales increase presents a far more modest 0.9 per cent rise.

Despite the mixed bag of results, Toys R Us CEO Dave Brandon remains positive about the latest financials, but believes the best is still to come.

“Throughout the year and especially during the holiday season, we focused on improving our execution to deliver a positive and memorable shopping experience to our customers,” he said.

“We significantly improved our performance, but we can and will make further progress on our quest to achieve flawless execution in every aspect of our operations.”

Brandon took the helm of the toy retailer in July last year with the self-appointed task of turning the company’s sales dip around.

For the quarter, revenue fell 2.6 per cent to $4.9 billion. The company earned $276 million, up from $265 million the previous year. 

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