US: Toys R Us sees 'steady return' in third quarter financial results

While the group has seen consolidated net sales decrease by 1.3 per cent versus the prior year period, Toys R Us has seen an improvement of 0.4 per cent in net sales, thanks to its raft of new stores this year.
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Toy retail giant, Toys R US has reported a steady return to form in its financial results for the third quarter of the year.

While the group has seen consolidated net sales decrease by 1.3 per cent versus the prior year period, Toys R Us has seen an improvement of 0.4 per cent in net sales, thanks to its raft of new stores this year.

Meanwhile, gross margin dollars for the year ending November 1st 2014, have risen by $12miliion to $908million this year, compared to $896million in 2013.

Operating loss for the year was $93million this year, compared to $140million of last year, while net loss has improved by $392million, shifting from $605million in 2013 to $213million this year.

Antonio Urcelay, chairman of the board of directors and chief executive officer, Toys R Us, Inc, said: “During the third quarter, we continued to make steady progress across the company in driving our TRU Transformation strategy, and we are pleased with the improvement.

“Our attention is fully focused on the holiday season and the important fourth quarter for our business. We believe the imprevements we have made during the first three quarters of the year have us well positioned to deliver an improved shopping experience for our customers, both in store and online.”

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