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Report: Toys “R” Us to Increase Toy Testing

BY CSA STAFF

New York City, Toys “R” Us is increasing the frequency of safety checks conducted on products sold in its stores after a slew of Chinese-made toys were recalled this summer due to unsafe levels of lead paint.

“Earlier this year we began spot checking of products on our store shelves as part of our increased efforts for quality assurance,” said Toys “R” Us spokeswoman Kathleen Waugh. “But in light of recent recalls we have begun a systematic recheck of all products on our store shelves.”

Earlier on Monday, The New York Times reported that the company had hired engineers to regularly visit the company’s stores to take branded toys to independent labs for testing. The report also said Walt Disney Co. will start its own testing of toys featuring Disney characters. The process will include random testing of products already on store shelves, the report said.

Retailers are taking action ahead of the critical holiday selling season, and last month, Wal-Mart Stores Inc. said it was asking suppliers to resubmit testing documentation for the toys it sells.

Wal-Mart also said it hired independent laboratories to conduct an average of 200 additional tests each day.

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Seasonal categories aid Family Dollar sales

BY CSA STAFF

MATTHEWS, N.C. Family Dollar Stores reported that net sales for the four weeks ended Sept. 1 increased 3.4% to approximately $494.4 million from $478.3 million for the comparable four-week period ended Sept. 2, 2006. According to the company, the sales increase was aided by strong performance in the food and seasonal categories, primarily toys and lawn and garden, while sales of apparel were softer. Comparable-store sales for the four-week period increased 1% when compared with sales for the similar four-week period last year.

Sales for the fourth quarter of fiscal 2007 ended Sept. 1, were approximately $1.63 billion, or 3.4% above sales of approximately $1.58 billion for the fourth quarter of fiscal 2006 ended August 26, 2006. For the year ended Sept. 1, sales were approximately $6.8 billion, or 6.9% above sales of approximately $6.4 billion for the year ended Aug. 26, 2006.

The company reported that it anticipates earnings per diluted share for the fourth quarter to be in the range of 24 cents to 27 cents compared with 21 cents per diluted share for the fourth quarter last year. For the full year, the company currently expects net income per diluted share to be between $1.60 and $1.63 compared with $1.26 per diluted share for the prior fiscal year.

 

The company expects that comparable-store sales for the September period ending Oct. 6, will increase 1% to 3%.

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Burlington Coat Factory 1Q sales up 2.6%

BY CSA STAFF

BURLINGTON, N.J. Burlington Coat Factory Warehouse announced today that net sales from continuing operations for the first quarter ended Sept. 1 were $673.9 million compared with $656.8 million for the first quarter ended Sept. 2, 2006, a 2.6% increase. These results reflect a 2% comparable-store sales decrease for the quarter. June comparable-store sales decreased 2.1%, July comparable-store sales decreased 3.7% and August comparable-store sales decreased 0.6%, compared with the same periods last year.

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