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TOY PROFITS TAKE A DIVE

Partially because there's no "it" toy this season, Toys 'R' Us reported a dramatic 75 percent drop in profit this past quarter. The company noted that they took a big hit in their Internet division during the second quarter as well. Help is undoubtedly on the way in the online department, as the company's Internet division, Toysrus.com, recently signed an agreement with retailer Amazon.com recently to develop a website selling toys. The stock rose on Monday, despite the reported decline in sales, as investors saw the 2 percent drop in store sales as unthreatening to the company's future.

Tue, 15 Aug 2000 00:55:23 -0700

Submitted by: Susan Ludwig