EARNINGS ROUNDUP
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Toys R Us said fiscal second-quarter earnings fell 58% on lagging toy and video sales.
The Paramus, N.J.-based retailer said earnings for the three months ended July 29 were $15.84 million, or 6 cents a share, down from $38.0 million, or 13 cents, for the year-earlier quarter.
Revenue for the period rose 11.2%, to $1.61 billion from $1.45 billion a year ago.
Comparable sales, or sales at stores open at least a year, for domestic toy stores fell less than 1% for the quarter and 5% for the first six months.
Toys R Us said the total sales improvement for the quarter reflects its steps to improve market share through better pricing and strong promotions in its basic businesses. Toys R Us is the world’s largest toy retailer.
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