eToys, Inc. (Nasdaq: ETYS) fell 2 3/8 to 7 1/8 Thursday after reporting heavy losses for the fourth quarter and fiscal year ended March 31st.
The online toy retailer said net sales for the quarter climbed from $23 million to $61 million, though the net loss widened to $36.6 million, or 30 cents a share, from $8.9 million, or 10 cents, in the year-earlier quarter. Sales for the year rose to $151 million (US$) from $30 million, while the company lost $148.1 million, or $1.29 a share, compared with $22.4 million, or 27 cents, in 1999.
The company is hoping a new, summer-themed ad campaign will further boost sales and help build loyalty among consumers.
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