eToys (fka eTys)

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Toys R U.S. Posts Loss of $65 Million

PARAMUS, N.J. (Reuters) - Toy-seller Toys R Us Inc. (TOY.N) on Monday posted a third-quarter loss of $65 million as the company's investment in its Internet operations continued to hurt results.

The Paramus, N.J.-based company said its net loss for the quarter, ended Oct. 28, amounted to 32 cents per share, versus a year-earlier profit of 6 cents a share, or $15 million.

Wall Street analysts on average had expected the retailer to report a loss of 33 cents a share, according to research firm First Call/Thomson Financial.

Sales for the third quarter fell to $2.2 billion from $2.5 billion a year ago. The company said U.S. same-store sales, or sales at stores open at least one year, fell 1 percent, while international same-store sales rose 2 percent.

Toys R Us said it expects to meet or slightly exceed analysts' consensus earnings estimates for the fourth quarter and for fiscal 2001. Shares of Toys R Us closed at $16-7/16 on the New York Stock Exchange on Friday. Reut08:39 11-13-00