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Toys ‘R’ Us reports healthy 2007 sales

Despite a year marked by costly toy recalls, Wayne, New Jersey-based Toys 'R' Us reported a whopping 39.3% increase in net earnings in Q4, 2007 over 2006, and a similarly impressive 40.4% jump in year-end net earnings over last fiscal's numbers, with overall annual retail sales increasing by 5.7% to US$13.05 billion.
May 5, 2008

Despite a year marked by costly toy recalls, Wayne, New Jersey-based Toys ‘R’ Us reported a whopping 39.3% increase in net earnings in Q4, 2007 over 2006, and a similarly impressive 40.4% jump in year-end net earnings over last fiscal’s numbers, with overall annual retail sales increasing by 5.7% to US$13.05 billion.

Net earnings for Q4 were up to US$312 million while operating earnings for Q4 fiscal 2007 also up 17.5% to US$671 million from US$571 million in Q4 last year.

Jerry Storch, Chairman and CEO of Toys ‘R’ Us called the results ‘gratifying’ and pointed to better gross margins and new store openings as the primary reasons for the uptick.

About The Author
Gary Rusak is a freelance writer based in Toronto. He has covered the kids entertainment industry for the last decade with a special interest in licensing, retail and consumer products. You can reach him at garyrusak@gmail.com

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