EToys Posts Heavy Losses

29 January 2001

Online toy store eToys last week posted Q3 results gloomier than Wall Street’s expectations.

The etailer reported a loss of $85.8 million for the three months ending December 31, compared with a deficit of $75.5m for the same period in 1999. Without expenses such as deferred compensation, goodwill and amortization costs, the loss was $74.5m.

The company, which has cut jobs and shut its European operations in recent months, believes that its $82.8m cash reserves will last it through to the end of the fiscal year.

News source: Advertising Age - Interactive Daily