Toys'R'Us sees increase in 1Q operating earnings
WAYNE, N.J. Toys"R"Us reported that operating earnings for first quarter of fiscal 2009 increased to $21 million from $2 million for the first quarter of fiscal 2008. The net loss was $35 million, compared to $36 million for the first quarter of fiscal 2008.
“Our first quarter results speak to the strengths of our business strategy and reflect our discipline as an organization in delivering results, protecting margin, and rigorously controlling expenses,” said Jerry Storch, chairman and CEO of Toys“R”Us.
Net sales during the first quarter of fiscal 2009 were $2.477 billion versus $2.719 billion for fiscal 2008.