For Jack Ma, executive chairman of Alibaba Group Holdings, today is an extremely busy and lucrative day because the company he founded 15 years ...
Web sales at ToysRUs.com tripled during the 2000 holiday season versus the 1999 season. The site had sales of $180 million for fiscal 2000.
Web sales at ToysRUs.com tripled during the 2000 holiday season versus the 1999 season. The site generated sales of $180 million for fiscal 2000, the company reported today. Toys R Us stated that the substantial sales increases reflect the success of a strategic alliance with Amazon.com, which combined the two companies` expertise. In the coming year, this division plans to build on this sales momentum by further improving the site and converting its Babiesrus.com and its Imaginarium.com sites to the Amazon platform. While the division reported a significant loss in 2000 associated with the building of its infrastructure and attaining critical mass as well as the non-recurring charges related to the Amazon alliance, it noted that the operating loss decreased by 16% in the fourth quarter.
Companywide sales increased 6% for the fourteen weeks and 4% for the fifty-three weeks ended February 3, 2001, compared with the thirteen weeks and fifty-two weeks ended January 29, 2000, after excluding sales of Toys R Us - Japan. For the fourth quarter of 2000 the company reported net earnings of $251 million, compared with $235 million, for the same period last year. Fiscal 2000 net earnings were $404 million, compared with $279 million for the 1999 fiscal year. The results include the impact of Toysrus.com, as well as a $315 million pre-tax gain resulting from the initial public offering of Toys "R" Us - Japan, which was recorded in the first quarter of 2000. Sales were $4.8 billion Sales totaled $4.8 billion in the fourth quarter vs. $5 billion ($510 million for Toys R Us Japan) fourth quarter of the prior year. Annual sales totaled $11.33 billion vs. $11.862 ($1.2 billion in Japan) the prior year.