Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Sales for 2003 at ToysRUs.com rose 10.6% to $376 million from $340 million in 2002. Web sales accounted for 3.2% of all sales last year vs. 3% a year earlier.
Sales for 2003 at ToysRUs.com rose 10.6% to $376 million from $340 million in 2002, Toys R Us Inc. reported today. After adjusting for the sale of Toysrus.com Japan to Toys R Us Japan during the third quarter of 2003, full-year sales increased 12.8%. Unadjusted web sales accounted for 3.2% of all sales last year vs. 3% a year earlier. For the year ended Jan. 31, operating loss was $18 million vs. operating loss of $37 million for the previous year.
Fourth quarter 2003 sales at ToysRUs.com totaled $198 million, an increase of 2.6% from 2002 Q4 sales of $193 million. Fourth quarter sales increased 8.4% from last year after adjusting for the sale of ToysRUs.com Japan. Operating earnings for the fourth quarter of 2003 increased to $4 million from $3 million in 2002.
Companywide sales for the year were $11.57 billion, up 2.3% from last year`s $11.31 billion. The company reported net earnings of $88 million vs. net earnings of $229 million for 2002. Q4 companywide sales were $4.94 billon, up 1.4% from $4.87 billion in Q4 the prior year. Net earnings reached $144 million in Q4 compared with net earnings of $278 million for the fourth quarter 2002.
In the U.S. Toy Store division, comparable store sales decreased 5.1% for the fourth quarter of 2003. Babies R Us comparable store sales increased 2.9%.
The company reported that results for the fourth quarter and the full year were substantially affected by charges associated with the previously announced decision to close the 146 free-standing Kids R Us stores and the 36 free-standing Imaginarium stores