US: Toys R Us profit soars

Full year profits for Toys R Us in the US were up 43 per cent year on year.
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The retailer earned $387 million for the fourth quarter ending 30th January, up from $345 million a year earlier - a rise of 12 per cent. Revenues grew more than seven per cent to $5.9 billion.

Sales at stores open at least a year rose 3.3 per cent in the US and 0.1 abroad. For the full year, the figure fell three per cent in the US and 2.8 per cent abroad.

Chairman and CEO Jerry Storch said integrating the company's toy and juvenile businesses, opening new stores and focusing on new products helped the growth.

For the full year profits grew 43 per cent to $312 million. Revenue fell to $13.57 billion from $13.72 billion the prior year.

During the year, the company opened seven new "R" superstores, which are as big as a full-size toy store and a full-size baby store combined, and now operates 26 across the country.

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