Toys R Us Up in Adjusted Profits

Toys ‘R’ Us Inc. posted slightly higher adjusted profits and a small climb in sales as the chain plans to go public (announced last month).
However due to higher interest expenses and funds set aside for lawsuits, profits after interest, taxes, depreciation and amortization were down, with a loss of $55 million, compared with a year-earlier loss of $35 billion. Before interest, taxes, depreciation and amortization, earnings rose to $123 million from $120 million.
Net sales increased 5.3 percent to $2.6 billion. Same store sales in the U.S. rose 1.9 percent but fell on an international basis 1.4 percent.
Last month Toys ‘R’ Us announced it will go public again with an expected $800 million initial public offering, said The Wall Street Journal.
Source: The Wall Street Journal