Toys R Us increase profits
Toys R Us has reported an increase in profits for the first quarter after a year long slump in earnings. Profits increased from $18.4 million to $18.7 million with turnover rising 10% to $1.6 billion. The group blamed low margins on video hardware products for slow growth. Toys R Us plans further expansion this year opening a chain of Babies R Us. A total of 55 stores outside the US are expected to open over the next 12 months.