Tuesday, September 30, 2014

Vornado loss narrows on Toys 'R' Us stake



MarketWatch.com - Financial Services Industry News http://ift.tt/1vsOhIo Vornado Realty Trust said it will report a loss of $18 million from its stake in Toys "R" Us in the third quarter, narrowing from a year earlier. Vornado, which has a 32.7% stake in the toy maker, noted the business of Toys "R" Us is highly seasonal and historically the company's holiday season accounts for more than 80% of its annual profit.


No comments:

Post a Comment