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Wii Sales Help Toys ‘R’ Us Profits

Increased sales of video games have helped boost profits for toy store chain Toys ‘R’ Us in its second quarter. The company went from a loss of $42 million at the same time last year to a profit of $13 million for the three months ended August 2nd.
Increased sales of video games have helped boost profits for toy store chain Toys ‘R’ Us in its second quarter financial results. The company went from a loss of $42 million at the same time last year to a profit of $13 million for the three months ended August 2nd. Revenues were also up by 6.3 percent to $2.7 billion, as execs celebrated a turnaround in the company’s fortunes, seeing improvements in all three of the company’s main divisions. Same store sales of video game products were highlighted by CEO Gerald Storch as being key to the positive results, particularly the ongoing success of the Nintendo Wii and the launch of hardware bundle Wii Fit. Sales at stores open for 56 weeks or more were up 2.3 percent in the first half of the year, compared to a 0.4 percent decrease in the first quarter. The retailer now operates around 1,500 stores, following the closure of a number of unprofitable locations.

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