Vornado to post 2Q loss on Toys R Us stake

When the second quarter wraps up on June 30, Vornado Realty Trust will have recorded a loss of $22.8 million, or 11 cents per share, thanks to its 32.7 percent stake in Toys R Us, according to the Associated Press. Toys R Us invested some $58 million in opening new stores, converting its current ones and upgrading its technology during the three months that ended April 30, and as a result, reported a $67 million loss for that period. The privately-held retailer has plans to go public again, but has delayed its offering of as much as $800 million due to the unpredictable stock market. Vornado lost $21 million, or 10 cents per share, during the second quarter of 2010. [AP via Crain’s]