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Toys ‘R’ Us posts wider Q3 loss under weight of interest expenses
New York -- Toys “R” Us posted a wider loss for its fiscal third quarter due primarily to an increase in interest expenses. The retailer said it lost $105 million for the quarter ended Oct. 27, compared with a loss of $93 million in the year-ago period.
Toys “R” Us attributed the wider loss to a $29 million increase in its interest expenses due to an issuance of senior notes and repayment of other senior note
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Online sales keep setting records, more to come
Online sales are up 13% so far this holiday season and approaching a record $27 billion, according to the latest tally from the digital measurement firm comScore.
From November 1 through December 7, comScore puts total online spending at $26.8 billion, up 13% from $23.7 billion during the comparable period last year. Last week saw spending on December, 3, 4 and 5 each surpass $1 billion, according to the firm. That brings the number of billion spending days to seven. The highest volume day so far was Cyber Monday when sales hit nearly $1.5 billion.