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TOYS "R" US REPORTS SECOND QUARTER RESULTS WILL OPEN AT LEAST 105 TOY STORES IN 1993, INCLUDING 65 INTERNATIONALLY

 PARAMUS, N.J., Aug. 16 /PRNewswire/ -- Toys "R" Us, Inc. (NYSE: TOY), announced today that its sales for the second quarter ended July 31, 1993 increased 5.4 percent to $1.317 billion compared to $1.249 billion for the second quarter last year. Net earnings for the quarter increased 8.5 percent to $35.5 million or $.12 per share compared to $32.7 million or $.11 per share for the second quarter last year.
 For the first six months of 1993, net sales increased 7.5 percent to $2.603 billion compared to $2.422 billion for the same period last year. Net earnings in the first half increased 16.3 percent to $70.9 million or $.24 per share compared to net earnings in last year's first half of $61.0 million or $.21 per share.
 Charles Lazarus, chairman of the board and chief executive officer said, "Our U.S.A. toy stores experienced comparable store sales decreases of 1.9 percent for the quarter and remained flat for the first six months. Our margins have strengthened as a result of a more favorable product mix and reduced markdowns due to tight inventory control.
 "Our European toy stores experienced comparable store sales increases in the second quarter, but Canada experienced similar sales trends as the United States. We continue to be pleased with the new stores in Austria and Japan. Kids "R" Us experienced small comparable store sales decreases for the quarter reflecting the difficult apparel sales environment."
 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 at least 65 toy stores internationally, including our first stores in Belgium, The Netherlands, Portugal, Switzerland and Australia. Our Kids "R" Us division opened 7 stores and plans to open 4 more stores by the end of the year."
 Toys "R" Us is the world's largest and fastest growing children's specialty retailing chain currently operating 541 toy stores in the United States, 169 international toy stores and 217 Kids "R" US children's clothing stores.
 TOYS "R" US, INC.
 Second Quarter ended: 7/31/93 8/1/92
 Net sales $1,317,012,000 $1,249,144,000
 Earnings before taxes 55,476,000 51,509,000
 Net earnings 35,505,000 32,709,000
 Earnings per share .12 .11
 Average shares outstanding 296,685,000 297,165,000
 Six Months ended: 7/31/93 8/1/92
 Net sales $2,603,491,000 $2,421,620,000
 Earnings before taxes 110,845,000 96,082,000
 Net earnings 70,941,000 61,012,000
 Earnings per share .24 .21
 Average shares outstanding 297,593,000 297,373,000
 -0- 8/16/93
 /CONTACT: Michael Goldstein of Toys "R" Us, Inc., 201-599-6981, or Lawrence A. Rand of Kekst and Company, 212-593-2655, for Toys "R" Us/
 (TOY)


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

TS -- NY028 -- 2934 08/16/93 09:31 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
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