FAO reports 1Q loss

Children’s products marketer FAO (Nasdaq: FAOO) reported first-quarter catalog and Internet sales of nearly $2.5 million. Total sales for the King of Prussia, PA-based company, which consists of toy retailer Zany Brainy and cataloger/retailers FAO Schwarz and The Right Start, were $87.9 million for the 13 weeks ended May 4. The net loss was $17.2 million, due in large part to costs related to the integration of the three brands. The company, formerly known as The Right Start, bought Zany Brainy in September 2001 and FAO Schwarz in January 2002.

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