There has been significant media focus on the sale of our toy business, ... While that is a possibility, our focus remains on running the business. Our U.S. business is profitable and is generating cash.
We are very pleased by our results in the second-quarter. Despite the lack of hot toys that drove sales in the year-ago period, we reported strong revenue, thereby indicating the strength of our underlying core business.
We are pleased with the early signals this year.
We're very conservative for the fourth quarter because we don't want to be as vulnerable to the holiday season as we have been in the past.
This is the year of the dog.
I look forward to working with the Toys 'R' Us family to help the company reach its potential of being the premier retailer for toys and children's products.
We're clear that there is demand in the market for a specialty toy retailer and we're trying to answer that demand.
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