updated 4/5/2005 4:12:52 PM ET 2005-04-05T20:12:52

Toys R Us, which is to be sold by July to a private consortium, has awarded bonuses totaling $6.1 million to five executives for fourth-quarter performance.

The bonuses total 47 percent more than those given to the top five recipients a year earlier. The bonuses are based on fourth-quarter results, which the company has not yet released.

The largest bonus, $2.3 million, again went to chairman and CEO John H. Eyler Jr. He received $990,000 last year.

The company, the nation's No. 2 toy seller behind Wal-Mart Stores Inc., said the bonuses were awarded March 29. They were announced Monday after the stock market closed.

Sales during the December holiday shopping season, which composes part of the company's fourth quarter, slumped 1.4 percent compared to a year earlier, but Toys R Us may have regained some market share because of discounts and selection.

Toys R Us spokeswoman Susan McLaughlin said Tuesday the bonuses were based on the entire quarter, not just holiday sales.

The Wayne-based company has not announced when it will disclose fourth-quarter results, she said. Two days before their expected March 17 release, the company said the results would be indefinitely delayed so the retailer could reflect changes in how it accounts for leases.

On March 17, the company announced it would become a privately owned company in a $6.6 billion buyout deal proposed by a group that includes two equity firms and a real estate developer.

The deal, for the entire company, ended a seven-month auction that started as an effort to divide the sluggish toy business from the smaller, but more lucrative, Babies R Us segment.

Also receiving bonuses were:

  • Richard L. Markee, president of Babies R Us, $1.26 million, compared to $800,000 a year ago;
  • Christopher K. Kay, chief operating officer, $991,186, compared to $508,290 a year ago;
  • John Barbour, president of U.S. toy stores, $980,700, who was not in the top five last year; and
  • James E. Feldt, head of marketing, $578,431, compared to $400,000 a year ago.

Companies are only required to report fourth-quarter bonuses to the top five recipients, McLaughlin said.

"We pay bonuses every quarter, and to more than five people," she said.

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