This should add about $1 trillion in market cap for 2010 and we should see an IPO coming soon. "Better-than-expected results are vwery bullish.
PARAMUS, N.J. (AP) -- Vornado Realty Trust said on Tuesday that, in its third quarter, it will record a 1 penny loss for its share of retailer Toys R Us' second-quarter financial results.
Vornado, a real estate investment trust, owns 32.7 percent of the retailer.
Vornado says the results include a net loss of $2.6 million, or 1 cent per share, for the retailer's most recent quarter. That's compared with a net income of $22.1 million, or 11 cents per share, in the same quarter last year for Vornado's share of the toy seller.
Toys R Us Inc. reported earlier this month that it moved to a loss for its fiscal second quarter as its costs rose. The retailer posted a loss of $14 million, or 29 cents per share. A year earlier, when the company's revenue included a $51 million payment from Amazon.com to settle a lawsuit, Toys R Us earned $27 million, or 54 cents per share.