TRU’s holiday sales take a dip
While toy industry players wait with bated breath to see how much overall holiday sales will help or hurt their bottom lines, Toys 'R' Us was the first major toy retailer to announce its vital stats. Though Santa certainly didn't leave a big lump of coal in the retailer's stocking, the company did report that 2004 holiday net sales were down a slight 0.9% to US$4.29 billion, compared to US$4.33 billion in '03. But this dip can almost entirely be accounted for in the difference between a US$102-million decline in sales caused by shuttering the Kids 'R' Us chain last year, and a US$100-million gain in currency translation.
January 1, 2005
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