Mixed bag of results in toy giant's YTD financial results with net sales down domestically but international increase.
Toys R Us Inc. is ‘pleased with its efforts to strengthen and transform’ its business as year-to-date results hint towards the toy giant’s return to form.
While its year-to-date comparable store net sales decreased by 0.3 per cent with comparable net sales for the holiday period decreasing by 2.7 per cent, gross margin has increased as a percentage of net sales.
In the US, the group reports the greatest increase in gross margin dollars for the year-to-date and the firm attributes a successful holiday period to is ‘improved promotional and pricing strategy.’
On an international scale, Toys R Us saw comparable store net sales for the period February 2, 2014 to January 3rd, 2015 and holiday periods (November 2nd, 2014 to January, 3rd 2015) increase by 1.3 per cent and 1.2 per cent respectively.
Antonio Urcelay, chairman of the board of directors and chief executive officer, Toys R Us Inc., said: “I am pleased with our year-to-date performance and the actions we have taken to strengthen and transform the company.
“These results reflect the successful execution of our strategic plan to rationalize promotions, slow sales decline and improve margin for fiscal 2014.
“I am proud of the team’s hard work an high level focus on our key initiatives so far this year and throughout the competitive holiday season.”
