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<title>Toys "R" Us, Inc. Form 8-K 070604</title>
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<p align="center"><b><font size="3" face="Times New Roman">UNITED STATES<br />
SECURITIES AND EXCHANGE COMMISSION<br />
Washington, D.C.&nbsp;&nbsp;20549<br />
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</font></b><b><font size="5">FORM 8-K</font><br />
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CURRENT REPORT<br />
PURSUANT TO SECTION 13 OR 15(D) OF THE<br />
&nbsp; SECURITIES EXCHANGE ACT OF 1934<br />
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<p align="center"><font size="3" face="Times New Roman">Date of report (Date of earliest event reported) &nbsp;&nbsp;<b><u>July 6, 2004</u></b></font></p>

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<p align="center"><b><u><font size="3" face="Times New Roman">TOYS &ldquo;R&rdquo; US, INC.</font></u></b></p>
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<p align="center"><font size="3" face="Times New Roman">(Exact name of registrant as specified in its charter)</font></p>
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<p align="center"><b><u><font size="3" face="Times New Roman">Delaware</font></u></b></p>
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<p align="center"><b><u><font size="3" face="Times New Roman">1-11609</font></u></b></p>
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<p align="center"><b><u><font size="3" face="Times New Roman">22-3260693</font></u></b></p>
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<p align="center"><font size="3" face="Times New Roman">(State or other jurisdiction<br />
 of incorporation)</font></p>
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<p align="center"><font size="3" face="Times New Roman">(Commission<br />
 File Number)</font></p>
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 Identification Number)</font></p>
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<p align="center"><b><font size="3" face="Times New Roman">One Geoffrey Way,&nbsp;<br />
 <u>Wayne, New Jersey</u></font></b></p>
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<p align="center"><b><u><font size="3" face="Times New Roman">07470</font></u></b></p>
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<p align="center"><font size="3" face="Times New Roman">Registrant&rsquo;s Telephone Number, including area code&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><b><u><font size="3" face="Times New Roman">(973) 617-3500</font></u></b></p>
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<p align="center"><font size="3" face="Times New Roman">(Former name or former address, if changed since last report)</font></p>
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<p><b><u><font size="3" face="Times New Roman">Item 5.</font></u></b></p>
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<p><b><font size="3" face="Times New Roman">&nbsp;</font></b></p>
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<p><b><u><font size="3" face="Times New Roman">Other Events and Required Regulation FD Disclosure.</font></u></b></p>
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<p><font size="3" color="black" face="Times New Roman">Our corporate income tax returns are routinely examined by the Internal Revenue Service ("IRS") and other taxing authorities.&nbsp;</font> Based on specific facts and circumstances, from time to time management
establishes reserves to cover certain tax related contingencies <font color="black">including contingencies resulting from questions raised by the taxing authorities during the course of an examination.&nbsp; On June 29, 2004 the IRS notified us that its examination
of our 1997 to 1999 U.S. tax returns is complete and its adjustments are final.&nbsp; As a result, the Company reversed previously accrued income tax reserves that had been established to cover tax related contingencies in the years 1997 to 1999.&nbsp; This reversal
will decrease income tax expense and increase net earnings for our second quarter ended July 31, 2004 by $200 million.</font></p>
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<p align="center"><b><font size="3" face="Times New Roman">SIGNATURES</font></b></p>

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<p><font size="3" face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>

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<p align="center"><b><u><font size="3" face="Times New Roman">Toys &ldquo;R&rdquo; Us, Inc.</font></u></b></p>
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<p align="center"><font size="3" face="Times New Roman">(Registrant)</font></p>
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<p align="center"><b><font size="3" face="Times New Roman">DATE</font></b> &nbsp;&nbsp;<b><u>July 6, 2004</u></b></p>
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<p><b><font size="3" face="Times New Roman">BY</font></b></p>
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<p><b><u><font size="3" face="Times New Roman">/s/ Raymond L. Arthur</font></u></b></p>
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<p align="center"><font size="3" face="Times New
Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p align="center"><font size="3" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p><font size="3" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p><font size="3" face="Times New Roman">Raymond L. Arthur</font></p>
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<p align="center"><font size="3" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p><font size="3" face="Times New Roman">Executive Vice President and</font></p>
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<p align="center"><font size="3" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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<p><font size="3" face="Times New Roman">Chief Financial Officer</font></p>
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{"company-data": {"conformed-name": "TOYS R US INC", "cik": "0001005414", "assigned-sic": "5945", "irs-number": "223260693", "state-of-incorporation": "DE", "fiscal-year-end": "0130"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-11609", "film-number": "04902928"}, "business-address": {"street1": "TOYS", "street2": "ONE GEOFFREY WAY", "city": "WAYNE", "state": "NJ", "zip": "07470", "phone": "9736173500"}, "mail-address": {"street1": "TOYS", "street2": "ONE GEOFFREY WAY", "city": "WAYNE", "state": "NJ", "zip": "07470"}}
Toys "R" Us, Inc. Form 8-K 070604
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported)
July 6, 2004
TOYS "R" US, INC.
(Exact name of registrant as specified in its charter)
Delaware
1-11609
22-3260693
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification Number)
One Geoffrey Way,
Wayne, New Jersey
07470
(Address of Principal Executive Offices)
(Zip Code)
Registrant's Telephone Number, including area code
(973) 617-3500
(Former name or former address, if changed since last report)
Item 5.
Other Events and Required Regulation FD Disclosure.
Our corporate income tax returns are routinely examined by the Internal Revenue Service ("IRS") and other taxing authorities.
Based on specific facts and circumstances, from time to time management
establishes reserves to cover certain tax related contingencies
including contingencies resulting from questions raised by the taxing authorities during the course of an examination.  On June 29, 2004 the IRS notified us that its examination
of our 1997 to 1999 U.S. tax returns is complete and its adjustments are final.  As a result, the Company reversed previously accrued income tax reserves that had been established to cover tax related contingencies in the years 1997 to 1999.  This reversal
will decrease income tax expense and increase net earnings for our second quarter ended July 31, 2004 by $200 million.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Toys "R" Us, Inc.
(Registrant)
DATE
July 6, 2004
BY
/s/ Raymond L. Arthur
Raymond L. Arthur
Executive Vice President and
Chief Financial Officer