Toys 'R' Us Posts Optimistic Loss

Smaller-than-expected drop is good news for the retailer
Posted November 14, 2000

Toys 'R'Us (Parsippany, N.J.) reported a slightly smaller third-quarter loss than was predicted, and announced it expects to meet or exceed fourth-quarter and fiscal 2001estimates.

For the quarter ended October 28, the company posted a loss of $65 million, just a penny-a-share less than analysts'projections. Sales for the quarter dropped to $2.2 billion from $2.5 in the year earlier quarter. Same-store sales fell 1 percent.

Results include a $118 million charge the company took to align with Amazon.com, creating a co-branded Toysrus.com web site. Excluding this charge, Toys "R" Us posted net income of $15 million.