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For the month of December, the Toys"R"Us, Inc. Domestic (U.S.) division reported a comparable store sales increase of 1.9%. The Toys"R"Us, Inc. International division reported a comparable store sales decline of 4.9% for the month of December. Economic conditions varied around the world, with relative strength in Canada and Central Europe offset by declines in Japan and the U.K., the latter of which was also impacted by the liquidation of a major competitor. Due to the late timing of the "Three Kings" holiday on January 6, 2009, these results do not include the benefits of the full holiday selling period. The Domestic division comparable store sales for the nine-week 2008 holiday selling season decreased by 3.4%, as the strength of December's results could not entirely overcome the overall economic climate and the late start of the season, which contributed to slow sales earlier in November. For the International division, sales during the nine-week holiday season declined by 5.1%. Jerry Storch, Chairman and CEO, Toys"R"Us, Inc. said, "While we are pleased to have maintained sales momentum during these difficult economic times, we are very mindful of the profit challenges presented by the current retail climate. We have been making significant and appropriate reductions in our capital spending and expenses as we further position the company to navigate through the present economic environment." |
