Net earnings for Toys “R” Us Inc., Paramus, NJ, for the second quarter of 1999 ended July 31 were $15 million, excluding net costs incurred in creating and maintaining toysrus.com, the toy retailer’s e-commerce subsidiary. Net earnings for the first six months of the fiscal year, before Internet costs, are $32 million.
The net costs for the e-commerce site came to $4 million in the second quarter and $5 million for the six-month period. In contrast, in 1998, second quarter income was $16 million, before a special charge, and for the six-month period, $35 million before the charge. The charge was $4 million toward early payment of long-term debt.
Nevertheless, Toys “R” Us earned $2.2 billion in sales for the 1999 second quarter. In 1998, second quarter sales were $2 billion. Total sales for the first six months of the current year are $4.4 billion as compared to $4.1 billion last year.
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