(Ian Ritter is national online editor for GlobeSt.com/RETAIL.)

PARAMUS, NJ-Vornado Realty Trust, the owner of nearly one-third of the Toys "R" Us chain, will take a Q4 net loss of about $39.6 million due to the retailer's third-quarter performance. The drop also accounts for close to a $30-million drop in FFO, or 23 cents per share.

During the same period last year, the net loss was $24.3 million, accounting just over $23 million of fallen FFO. However, a statement released by company executives says that about 80% of Toys "R" Us' income comes during the fourth quarter, which will be reflected in Vornado's Q1 report next year.

Toys "R" Us net sales for its Q3, which ended on Oct. 29, were about $2.2 billion, while its operating expenses were $776 million. Coupled with other expenses the retailer had a net loss of $136 million, according to Vornado documents.