Toys 'R' Us Japan trims profit outlook - Market Watch - Brief Article

DSN Retailing Today, Sept 23, 2002

TOKYO -- Toys "R" Us Japan, which is 48% owned by U.S. toy retailer Toys "R" Us, has trimmed back profit forecasts for the business year ending Jan. 31 because of an uncertain economy, according to a published report. The company, which operates 124 stores nationwide, still expects to post record profits in 2002/03 with parent-only net profits to total 4.3 billion yen ($36 million), down from a March estimate of 4.5 billion yen.

Last year the company posted a net profit of 4.14 billion yen on sales of 175.26 billion yen. Full-year sales forecasts were also tweaked lower to 183 billion yen from an earlier estimate of 187 billion, the report stated.