WOODLAND PARK, N.J. _ Toys R Us, in its second-quarter financial report, filed Wednesday evening, spelled out the declining sales and earnings that preceded its decision last week to file for bankruptcy.
The Wayne, N.J.-based retailer, in a filing with the Securities and Exchange Commission, reported that net sales declined by $110 million, to $2.172 billion for the quarter, which ended July 29, compared to the previous second quarter.
Comparable sales at its U.S. stores open at least a year fell by 6.8 percent. Sales at international stores declined an average of 0.7 percent.
The net loss attributable to Toys R Us Inc. rose to $166 million, from a net loss of $95 million in the second quarter of 2016.
The company's gross profit margin declined as well, falling to 35.8 percent, down from 37.8 percent.
The retailer's adjusted EBITDA (earnings before interest, taxes, depreciation, amortization) declined to $73 million from $121 million the previous second quarter.
Operating earnings increased to $42 million, from $18 million.
Toys R Us told the bankruptcy court that it plans to keep its stores open and operate as usual. It has received $3.1 billion in debtor-in-possession financing that it says will allow it to operate its stores and make necessary improvements.
