Toys R Us Loss Is Less Than Forecast
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Toys R Us Inc.’s first-quarter loss shrank to $4 million as the second-largest U.S. toy retailer cut costs and sold more exclusive products such as Animal Alley plush toys.
The net loss narrowed to 2 cents a share from $18 million, or 9 cents, in the year-earlier period, the company said. Analysts had expected a 5-cent loss.
Sales rose 1.6% to $2.1 billion. Per-share earnings this year will meet the $1.14 average estimate of analysts, the company said.
Shares of Toys R Us fell 53 cents to $17.31 on the New York Stock Exchange.
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