KB Toys' loss for October jumps to $16.34 million

By Jeff Pines

Washington, Nov. 30 - KB Toys Inc.'s loss for October jumped to $16.34 million from September's $5.93 million loss.

The company filed its results for October with the U.S. Bankruptcy Court for the District of Delaware Tuesday.

Net sales for October were $58.4 million compared with $65.5 million for the month ended Oct. 2, but the cost of goods sold in October was $53.54 million compared with $39.35 million in September.

The Pittsfield, Mass.-based toy retailer posted an operating loss of $24.85 million compared with $8.18 million in the previous month.

Since filing for bankruptcy on Jan. 14, 2004, KB Toys has lost $138.49 million on sales of $592.01 million with an operating loss of $148.1 million.

Cash and cash equivalents on Oct. 30 were $6.06 million compared with $14.74 million on Jan. 14.

The company's Chapter 11 case number is 04-10120.

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