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Retailing

May 18, 1999

Toys R Us Inc. said its profit fell 11% in the fiscal first quarter to $17 million, or 7 cents a share, beating analyst estimates by 3 cents, as revenue grew 6% to $2.2 billion. Sales at U.S. stores open at least a year grew 1%, the first increase after three straight quarterly declines. The results were hurt by the cost of renovating stores as part of its move to better compete with Wal-Mart Stores Inc., which overtook Toys R Us as the nation's largest toy retailer last year.

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Limited Inc. said its profit jumped 64% in the first quarter to $33.5 million, or 14 cents a share, on a 12% increase in revenue to $2.1 billion. Sales at stores open at least a year were up 12%.

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