August 19, 2002, 12:00 AM increases sales, narrows operating loss

Sales at grew faster than companywide sales, reaching $42 million in the second quarter, up 21% from a year earlier. Companywide sales grew 2% in Q2.


Toys "R" Us Inc. reported today that second-quarter sales at its continued to outpace offline sales, as online sales grew 21% over the year-earlier period to $42 million from $35 million. Companywide sales grew 2% to $2.07 billion from $2.02 billion a year earlier.

Q2 online sales accounted for 2% of overall sales at all of Toys "R" Us’s divisions, up from 1.7% a year ago.

While small in dollars compared to total sales, the web site’s $7 million year-over-year increase in Q2 sales accounted for 14% of the total increase in overall net sales for the second quarter, which ended Aug. 3. Same-store sales in the U.S. fell 3%.

The increase in web sales coincided with an operating loss for the web site that narrowed to $14 million from $18 million.

Toys "R" Us, which includes within its core toy business the categories for boys, girls, learning and pre-school, said sales in its core toy business increased more than 5% during the first half. "This momentum is particularly important since core toy accounts for more than 50% of sales during the second half of the year, up from roughly 30% of sales in the first half," said John Eyler, chairman and CEO.


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