Wartime Is No Time To Sell Toys
Even when you're the industry's top dog, the toy business is not always fun. Powerhouse toy retailer Toys `R' Us reported disappointing earnings for the quarter ending May 4. Net income fell 32%, to $22.3 million, and while overall sales rose 9%, to $1.03 billion, sales at stores open a year or more in the U. S. were down 4.7%. The quarter right after the Christmas season is never a strong one in the toy business, but this year's was rougher than most, primarily because of the gulf war.