Toys "R" Us earnings down sharply in fourth quarter

PARAMUS, N.J. - Retailer Toys &#34;R&#34; Us Inc. announced sharply lower fourth-quarter earnings Thursday on flat sales of $4.8 billion. <br> <br> Toys &#34;R&#34; Us earned $158 million, or 78 cents per share, compared to $251 million, or $1.23 per share for the same period a year ago. <br> <br> The company, the second largest toy retailer behind Wal-Mart, said the results for the quarter ended Feb. 2 included the effects of $126 million in restructuring and other charges. <br> <br> Excluding the special charges, Toys &#34;R&#34; Us reported fourth-quarter earnings of $284 million, or $1.39 per share, beating the $1.38 per-share forecast of analysts surveyed by Thomson Financial/First Call. <br> <br> For the full year, Toys &#34;R&#34; Us reported earnings of $67 million, or 33 cents per share, compared to $404 million, or $1.88 per share, for fiscal 2000. <br> <br> The 2001 results include the impact of restructuring and other charges recorded in the fourth quarter. The 2000 results include a gain resulting from the initial public offering of Toys &#34;R&#34; Us-Japan and nonrecurring charges related to the strategic alliance between Toysrus.com and Amazon.com. <br> <br> Excluding special charges, Toys &#34;R&#34; Us fiscal 2001 earnings were $193 million, or 94 cents per share, compared to fiscal 2000 earnings of $264 million, or $1.23 per share. <br> <br> Toys R Us said its yearly sales for 2001 were $11 billion, down slightly from $11.3 billion a year ago. <br> <br> Shares of Toys &#34;R&#34; Us were down $1.24 to $19.08 in morning trading on the New York Stock Exchange. <br> <br> <br> ------ <br> <br> On the Net: <br> <br> http://www.toysrus.com <br> <br>

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