WAYNE, NJ – Toys“R”Us, Inc. reported financial results for the fourth quarter and full year of fiscal 2015 ended January 30, 2016.
Consolidated earnings before taxes and depreciation was $800 million for the full year, a $158 million improvement. The Domestic segment showed continued improvement in operating performance for the fourth quarter and full year and International segment same store sales grew for the eighth consecutive quarter. Since the inception of the “Fit for Growth” initiative in 2014, the Company has realized $307 million in savings, with the balance of the $325 million target expected to be achieved by the end of fiscal 2016.
The company closed its flagship store in Times Square at the end of December.
“I am very encouraged by our positive consolidated same store sales in what was a very competitive marketplace,” said Dave Brandon, Chairman and Chief Executive Officer, Toys“R”Us, Inc. “Throughout the year, and especially during the holiday season, we focused on improving our execution to deliver a positive and memorable shopping experience to our customers. We significantly improved our performance, but we can and will make further progress on our quest to achieve flawless execution in every aspect of our operations. We grew Adjusted EBITDA by 25% by successfully executing a number of key initiatives while continuing to take advantage of the progress we’ve made to right-size our cost structure.”
The toy chain reported 2015 net sales were $11.802 billion, a decrease of $559 million compared to the prior year. Net loss for the year was $130 million, compared to a net loss of $292 million in the prior year period, an improvement of $162 million.
Toys“R”Us, Inc. is the world’s leading toy and baby products retailer with 866 Toys“R”Us and Babies“R”Us stores in the United States, Puerto Rico and Guam, and in more than 750 international stores and over 245 licensed stores in 37 foreign countries and jurisdictions.