(MENAFN) New Jersey-based toys retailer Toys R Us Inc. reported a quarterly loss on weaker revenue and an increase in interest expenses, AP reported.
The company said it booked USD105 million net loss during its fiscal third quarter ended October 27, wider than USD 93 million loss a year earlier.
Toys R Us blamed the wider loss primarily on a USD29 million increase in its interest expenses due to an issuance of senior notes and repayment of other senior notes.
Toys R Us also reported more than 3 percent decline in quarterly revenue to USD2.6 billion due to the negative impact of foreign exchange rates as well as the impact of a layaway program, which defers the recognition of sales until the customer picks up the order.
Revenue from same stores-sales dropped 4.1 percent in the US and 4.6 percent in international markets, due to weak business in Europe and Japan.
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