NEWS

Toys R Us reports losses of £2.6m

Published on: 12th November 2012

The struggling UK economy has seen Toys R Us enter the red in the latest set of accounts for its 79 British stores.

A pre-tax loss of £2.6 million in the year to 28 January 2012 was reported on a turnover of £476 million, down from a profit of £9.9 million the previous year. Directors are blaming a 6.6% decline in sales as well as the tough, competitive market for the loss.

Profits were wiped out by distribution costs, administrative expenses and £11 million in interest payments.

Toys R Us stores are mainly in out-of-town retail parks, but the company has opened several temporary ‘pop-up’ stores in shopping malls to take advantage of the busy Christmas shopping season.

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