Pre-tax profits at Toys R Us’ UK business were slashed by almost half for the second consecutive year.
The big box toy retailer’s profits slumped 47.7% to £5.9m for the year to February 2. Turnover in the period dropped 3.2% to £460m, according to accounts filed at Companies House.
In the previous year, Toys R Us’ pre-tax profits plunged 48% to £11.4m in the year to January 29, 2012 while turnover slipped 6.6% to £476m.
Toys R Us opened one store in the year to January 29, 2013 and finished the period with 80 stores and three seasonal stores.
The retailer is currently implementing its three-year strategy which aims to offer the widest range of toys that shoppers can interact with. It also wants to build its product range to the point which 50% of its range is exclusive.
It is also considering quicker delivery options for online shoppers.
Toys R Us declined to comment.