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Fourth Quarter Accounts for 80% of Toys “R” Us Revenue

Toys R Us Times Square Store

Vornado Realty Trust, which owns a 32.7% stake in Toys “R” Us, has announced that it will take a £32.2 million loss from its shareholding for the quarter ending 31st December. The equity real estate investment trust explained the figures thus, “the business of Toys is highly seasonal; historically, Toys’ fourth quarter net income accounts for more than 80% of its fiscal year net income”.

With gross sales of $2,700 million and a gross margin of $986 million for the last quarter, Toys “R” Us loses out on “selling, general and administrative expenses” which amount to $973 million. Other investors and lenders at Toys “R” Us include, Delaware, Inc.’s 7.375% Senior Secured Notes due 2016, Toys“R”Us Property Company I, LLC’s 10.75% Senior Notes due 2017, Toys“R”Us Property Company II, LLC’s 8.50% Senior Secured Notes due 2017 and Toys“R”Us, Inc.’s 7.875% Senior Notes due 2013, 7.375% Senior Notes due 2018 and 8.75% Debentures due in 2021.

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Editors and staff from the Business Desk at The Global Herald.

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