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Taxes, expenses push up Toys ‘R’ Us Q1 loss, but sales improve
Wayne, N.J. — Toys “R” Us reported a net loss of $196 million in the first quarter of fiscal 2014, up from a $111 million net loss in the year-ago period, amid a decrease in income tax benefit and rise in expenses that included investments in e-commerce and U.S. store maintenance. But the struggling retailer saw its sales improve.
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California drought and Easter shift affect 99 Cents Only’s Q1 comps
The drought’s effect on fresh produce in California and the timing of this year’s Easter holiday adversely affected 99 Cents Only Stores’ comparable-store sales in the first quarter of fiscal 2015.
Same-store sales decreased 0.5%, calculated on a comparable 13-week period of the prior year. The company reported net sales of $477.9 million, an increase of 7% from $445.2 million in the first quarter of fiscal 2014.