Toys'R'Us cuts 3Q loss

WAYNE, N.J. Toys“R”Us reported a third-quarter loss of $67 million, compared with a loss of $104 million for the third quarter of fiscal 2008.

“We are happy to announce that our third quarter performance produced our best operating results for this quarter since 2006,” said Jerry Storch, Chairman and CEO, Toys“R”Us. “For our business, the third quarter, which ended Oct. 31, is the prelude to the important holiday season ahead. It’s the period when we make significant investments in the business by ramping up store staffing, merchandising and marketing, as we make final preparations to welcome holiday shoppers.”

Net sales during the third quarter of fiscal 2009 were $2.7 billion, compared with $2.8 billion for the third quarter of fiscal 2008. Comparable-store net sales decreased by 9.3% and 4.7% in the third quarter of fiscal 2009 for the company's domestic and international segments, respectively. The entertainment product category (which includes video game hardware and software) accounted for a large majority of the total sales decline, while total sales in the traditional toy categories (learning, core, and seasonal) were up slightly, according to the company.