Toys-R-Us Reports Fiscal Turn Around

Toys-R-Us reports a net profit of $85 million for fiscal year 2006, compared with a net loss of $384 million in the 2005 fiscal year. In addition, the toy retailer announces a 40.1 percent rise in net profit for the fourth quarter of the 2006 fiscal year. Net profit reached $199 million, up from $142 million in the fourth quarter of 2005. Fourth quarters net sales were up 15.8 percent, reaching $5.7 billion. Annual net sales increased by 15.2 percent to $13.1 billion.