Toys 'R' Us: $42 million cash equivalents, $710 million debt at Q2 end

By Lisa Kerner

Charlotte, N.C., Sept. 24 - Toys 'R' Us, Inc. ended its second quarter with cash equivalents of about $42 million on Aug. 3, compared to $20 million on Feb. 2, 2013.

The company has been able to meet its operating cash needs principally by using cash on hand and cash flows from operations. Toys 'R' Us believes that cash generated from operations, along with existing cash, will be sufficient to fund expected cash flow requirements for the next 12 months, according to the company's form 10-Q filed for the second quarter with the Securities and Exchange Commission.

During the 26 weeks ended Aug. 3, net cash provided by operating activities was $25.7 million, compared to $13.6 million for the same period last year.

According to the Wayne, N.J.-based toy retailer, the carrying value of its debt was $710 million and $718 million as of Aug. 3 and Feb. 2, 2013, respectively.

Earnings from continuing operations for the 13-week period ended Aug. 3 decreased to $5.2 million from $5.5 million for the 13 weeks ended July 28, 2012.

Total revenues and interest expense both increased by a "nominal amount" for the 13 and 26 weeks ended Aug. 3, compared to the same periods last year, the filing said.

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