US: TRU slumps ahead of flotation

First quarter losses for Toys R Us increased, ahead of its planned flotation.
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The firm reported wider quarterly losses to $55 million in the fiscal first quarter, from $35 million in the year-earlier period. Earlier this year it confirmed plans for an $800m public offering.

Sales rose 5.3 per cent to $2.61 billion, while total operating costs rose by approximately 8.2 per cent.

While same-store sales rose by 1.9 per cent domestically, international sales fell 1.4 per cent.

The company attributed the lacklustre performance of its international sales to weak demand for products like video game hardware and software and seasonal categories.

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