Toys "R" Us Inc. on Wednesday reported financial results for its fourth quarter and fiscal year ended 30 January 2010.
For the 2009 fiscal year ended 30 January, the company reported net earnings of USD312 million, an increase of 43.1 percent compared to net earnings of USD218 million for the 2008 fiscal year. Net earnings for the fourth quarter were USD387 million, compared to net earnings of USD345 million for the fourth quarter of fiscal 2008.
Fiscal 2009 operating earnings increased to USD784 million from USD621 million for fiscal 2008. EBITDA for the year was USD1.168 billion, the highest in the history of the company since it was founded in 1948. Adjusted EBITDA for fiscal 2009 increased to USD1.062 billion, up from USD1.002 billion in fiscal 2008. This marks the third consecutive year the company has delivered adjusted EBITDA of over a billion dollars.
"Our strong financial results for fiscal 2009 reflect the ongoing successful execution of our long-term strategy. The Toys "R" Us brand is unique and robust, and we were able to build momentum throughout the year by focusing on our core strengths and by being innovative in our offerings to customers," said Jerry Storch, chairman and CEO, Toys "R" Us Inc. "The continued integration of our toy and juvenile businesses and our focus on differentiated product offerings have helped drive our growth. Also, throughout the year, we continued to open new stores nationally and internationally, and to convert others to our side-by-side format. We are grateful to our customers and to our business partners who are supporting our growth as the world’s leading specialty retailer of toys and baby products. There can be no doubt that our team was ‘playing to win’ in 2009."
To view the full financial results, visit Business Wire.
(Source: Business Wire)