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TOYS "R" US REPORTS FIRST QUARTER EARNINGS INCREASE OF 25 PERCENT

 PARAMUS, N.J., May 17 /PRNewswire/ -- Toys "R" Us, Inc. (NYSE: TOY) announced today that its sales for the first quarter ended May 1, 1993 increased 10 percent to $1.286 billion compared to $1.172 million for the first quarter last year. Net earnings for the quarter increased 25 percent to $35.4 million or $.12 per share compared to $28.3 million or $.10 per share for the first quarter last year.
 Charles Lazarus, chairman of the board and chief executive officer, said, "Our U.S.A. toy stores achieved comparable store sales increases of 2 percent, with strong increases in basic toy and video categories. Our margins continued to strengthen as a result of the more favorable product mix. Our toy stores in Spain and Canada experienced strong comparable store sales increases while our United Kingdom stores experienced moderate increases. Germany and France were adversely impacted by local economic conditions and therefore had comparable store sales decreases. We continue to be pleased with the new stores in Austria and Japan. Although Kids "R" Us experienced flat comparable store sales, operating results rose significantly which reflects continued improvement in inventory management and expense control."
 Mr. Lazarus further stated, "Our 1993 store expansion program is on schedule. We plan to open about 40 toy stores in the United States and 60 toy stores internationally, including our first stores in Belgium, The Netherlands, Portugal, Switzerland and Australia. Our Kids "R" Us division has opened 5 stores through March and plans to open 5 more stores prior to Back To School".
 Toys "R" Us is the world's largest toy specialty retailing chain currently operating 540 toy stores in the United States, 167 international toy stores and 215 Kids "R" Us children's clothing stores.
 TOYS "R" US, INC.
 First quarter ended 5/1/93 5/2/93
 Net sales $1,286,479,000 $1,172,476,000
 Earnings before income taxes 55,369,000 44,574,000
 Net earnings 35,436,000 28,304,000
 Earnings per share $.12 $.10
 Average shares outstanding 298,511,000 297,578,000
 -0- 5/17/93
 /CONTACT: Michael Goldstein of Toys "R" Us, Inc., 201-599-6981, or Lawrence A. Rand Kekst and Company, 212-593-2655, for Toys "R" Us, Inc./
 (TOY)


CO: Toys "R" Us, Inc. ST: New Jersey IN: REA SU: ERN

TS -- NY024 -- 9025 05/17/93 08:55 EDT
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Publication:PR Newswire
Date:May 17, 1993
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