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TOYS 'R' US REPORTS 40 PERCENT INCREASE IN SECOND QUARTER NET EARNINGS

TOYS 'R' US REPORTS 40 PERCENT INCREASE IN SECOND QUARTER NET EARNINGS
 PARAMUS, N.J., Aug. 17 /PRNewswire/ -- Toys 'R' Us, Inc. (NYSE: TOY), today announced a 40 percent increase in net earnings for its second quarter and a 33 percent increase for the first half.
 For the quarter ended Aug. 1, 1992, the company reported that its sales increased 18 percent to $1.249 billion compared to $1.056 billion for the second quarter last year. Net earnings for the period were $32.7 million or $.11 per share compared to $23.4 million or $.08 per share for the second quarter last year.
 For the first six months of fiscal 1992, sales increased 16 percent to $2.422 billion compared to $2.082 billion for the same period last year. Net earnings in the first half were $61.0 million or $.21 per share, compared to net earnings in last year's first half of $45.8 million or $.16 per share.
 Charles Lazarus, chairman of the board and chief executive officer, said, "Our U.S.A. toy stores achieved comparable store sales increases of 6.3 percent for the quarter and 5.5 percent for the first six months, continuing the strong sales increases in basic toy categories. As a result, we realized more favorable margins due to this change in sales mix. Our European toy stores experienced strong sales increases in the quarter while the Canadian stores sales strengthened with a small comparable store sales increase. Kids 'R' Us sales and operating results for the quarter were comparable to last year."
 Lazarus further stated, "Our 1992 store expansion program is on schedule. We plan to open 80 to 85 toy stores in the United States and internationally, including our first stores in Austria. To date, we have opened two additional stores in Japan, two stores in Germany, one store in France and one store in Spain. Our Kids 'R' Us division has opened 19 stores in time for the Back To School selling season and plans to open 3 more stores including a new market, Puerto Rico."
 Toys 'R' Us is the world's largest toy specialty retailing chain currently operating 497 toy stores in the United States, 132 international toy stores and 208 Kids 'R' Us children's clothing stores.
 TOYS 'R' US, INC.
 Quarter to Aug. 1 1992 1991
 Net sales $1,249,144,000 $1,056,179,000
 Earnings before taxes 51,509,000 36,988,000
 Net earnings 32,709,000 23,445,000
 Net earnings per share $.11 $.08
 Average shares outstanding 297,165,000 295,859,000
 First half to Aug. 1 1992 1991
 Net sales $2,421,620,000 $2,081,834,000
 Earnings before taxes 96,082,000 72,746,000
 Net earnings 61,012,000 45,830,000
 Net earnings per share $.21 $.16
 Average shares outstanding 297,373,000 295,506,000
 -0- 8/17/92
 /CONTACT: Michael Goldstein of Toys 'R' Us, 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 -- NY009 -- 0354 08/17/92 08:53 EDT
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Publication:PR Newswire
Date:Aug 17, 1992
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