Toys R Us posts £60m Q1 loss

Retail giant Toys R Us posted a $60m loss for its financial quarter ending April 28th, 2012.

However this was a $7m improvement compared to the same period last year, where the retailer made a $67m loss.

Net sales reached $2.6 billion, a decrease of 0.9 per cent or $24 million year-on-year.

Toys R Us says learning and core toy categories continued to perform well, generating net sales growth of 6.7 per cent and 4.7 per cent respectively.

The entertainment category, which includes sales of electronics and video games, was down 14 per cent. Toys R Us said in a statement ‘this reflects the ongoing weakness in the global video game business’.

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