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News > Companies
Toys R Us meets Street
May 15, 2000: 9:47 a.m. ET

Loss from online sales pulls profits in line with Wall Street forecasts
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NEW YORK (CNNfn) - Toys "R" Us Monday reported lower earnings excluding a big one-time gain for its first quarter, matching Wall Street forecasts, as losses from its online sales cut profits by almost 40 percent.

The New Jersey-based toy retailer earned $15 million, or 6 cents a share, in the quarter, excluding a gain from the sale of its Japanese subsidiary through an initial public offering. That was in line with the forecast of analysts surveyed by First Call, and down from the $17 million, or 7 cents a share, a year earlier.

graphicWithout a $9 million loss from toysrus.com, the company would have earned $24 million, or 10 cents a share, from operations in the most recent period. With the gain from the sale of its Japanese operations, net income came to $215 million, or 93 cents a share.

Sales edged up to $2.3 billion from $2.2 billion. Sales at stores open at least a year, known as same-store sales, rose 2 percent despite strong sales from the then-hot Furby toy a year ago. The Paramus, N.J.-based chain is the world's largest stand-alone toy retailer.

Shares of Toys "R" Us  (TOY: Research, Estimates) rose 5/16 to 17-1/16 in early trading Monday. Back to top

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