Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Anthony@Pacific who wrote (65486)	1/3/2001 9:19:15 AM
From: RockyBalboa	of 122087

Cheap toys! 50% off all items! Buy now!!! EToys says to shut down in Europe LONDON, Jan 3 (Reuters) - Online toy seller eToys Inc (quote from Yahoo! UK & Ireland: ETYS.L), battling in the U.S. to stay afloat, said on Wednesday it was pulling the plug on its European operations. The company issued a warning in December that sales had fallen far short of expectations and said it had been forced to explore a merger, asset sale or other restructuring. It said at the time it had enough money to continue trading to the end of March. However, the UK operations will cease on January 19, eToys said in a statement, and eToys Europe will be closed early in 2001. ``Current market conditions have left us no other options,'' eToys International Vice President Ruben Rodriguez said. The company partially blamed poor capital market conditions but said its UK division had performed well since launch, particularly in the recent Christmas period. Overall, the group expects a revenue shortfall for the quarter. Goldman Sachs is advising eToys on its options and the European closure is designed to reduce operating costs. The retailer, one of the biggest online toysellers in the UK, said the decision will affect 74 staff employed in Europe. All items on the eToys.co.uk website will be knocked down by at least 50 percent as the closing down sale is launched.

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