Post by The Ultimate Nullifier on Dec 23, 2013 20:33:53 GMT -6
Toys R Us reported a $605 million loss in its third quarter ended November 2, up from a $105 million loss in the same period a year ago, according to The Deal Pipeline. While over half the loss came from an adjustment to a deferred tax asset account, the news on the income statement wasn’t good either. Comp store sales were down 5.2%, and over-all sales down 4.8%.
Among the reasons for the bad earnings was a decline in gross margin, as the company battles intense price competition from Amazon and Walmart, among others.
The value of Toys R Us debt declined as a result of the bad earnings, continuing a trend that has some saying that this holiday season is "make or break"
Among the reasons for the bad earnings was a decline in gross margin, as the company battles intense price competition from Amazon and Walmart, among others.
The value of Toys R Us debt declined as a result of the bad earnings, continuing a trend that has some saying that this holiday season is "make or break"
Attachments:
