NEW YORK, June 10 (Reuters) - Toys “R” Us Inc [TOY.UL] reported a 2.1 percent decline in U.S. same-store sales in the first quarter, hurt by weak sales of seasonal products.
The toy retailer’s net sales rose 1.1 percent to $2.6 billion, helped by the weak U.S. dollar and sales from new stores.
Results come as as Toys “R” Us prepares for a possible initial public offering. [ID:nN28175504] The retailer was taken private in 2005 by Kohlberg Kravis Roberts [KKR.UL], Bain Capital and Vornado Realty Trust (VNO.N).
The company’s net loss widened to $67 million in its fiscal first quarter, ended on April 30, from $55 million a year earlier. Investments made during the quarter, including preparations to open a new distribution center, hurt profits. (Reporting by Martinne Geller. Editing by Robert MacMillan)