Net sales for the fourth quarter were $5.7 billion, up 15.8%, with comparable-store sales increases in all divisions. For the fiscal year, net sales reached $13 billion, up 15.2%. Net earnings for the Wayne, N.J., based retailer gained 40.1% for its fourth quarter, to $199 million. And for fiscal year, earnings came in at $85 million compared to a net loss of $384 million in the prior year.
The company, which was acquired by three investors groups in 2005, said it was "focused on executing our strategy to be the global toy and baby products authority, and this translated into higher overall sales, positive comparable store sales, improved gross margins and strong operating earnings growth. We are accomplishing this by delivering a more compelling merchandise selection, better service, and a cleaner and more comfortable shopping environment."
At Toys "R" Us in the U.S., comparable store sales increased by 0.6% in fiscal 2006-its first comparable store sales increase in six years. And at Babies "R" Us, comparable-store sales gained 4.8% in fiscal 2006.