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Toys R Us Cut Backs

By: Import User
Updated: January 7, 2009
One of the nation`s largest toy retailers will be closing several stores. Toys R Us announced it will be closing 64 stores, meaning a loss of 1,900 jobs. The toy retailer blames the slumping economy and extensive remodeling costs for it`s economic slump. The company says it will take a $213 million dollar pretax restructuring charge in it`s fiscal fourth quarter and these cuts will boost pretax earnings by about $25 million dollars in 2002. No word yet on whether or not the Toys R Us in Joplin will close.

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