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Old Man Winter chills Toys’R’Us Q1 sales
WAYNE, N.J. — Lingering cold weather and soft sales in its electronics and entertainment categories caused Toys”R”Us’ net and comparable store sales for first quarter ended May 4 to dip.
The company reported net sales of $2.4 billion, a decrease of nearly 8% from $2.6 billion for the quarter a year ago. The decline in net sales for the quarter was primarily attributable to a decrease in comparable store net sales, as well as a foreign currency translation impact of $67 million.