Trans World Entertainment Reports Strongest December Comp Sales in 10 Years7 Jan, 2016 By: Erik Gruenwedel
In a diminished entertainment retail landscape, victories, however minor, can’t be ignored.
Trans World Entertainment Jan. 7 reported same-store sales at its f.y.e. (For Your Entertainment) chain increased 2.5% for the five-week December period ended Jan. 2, compared with the previous-year period. It was the best December comp sales in 10 years.
Comparable store sales for the nine-week holiday selling season inched up 0.6%. Total sales for the nine-week period decreased 3.9% to $100 million, compared with $104 million a year earlier. For the nine-week period, average square footage in operation declined 6.9% compared to a year earlier.
Principle drivers included trend and electronics categories, which saw a collective 35% increase in comp sales and contributed 46% ($46 million) to total sales versus 34% ($35.3 million) a year earlier. The bulk of revenue continues to be driven by sales of DVD and Blu-ray Disc titles.
Trend, which includes action figures, T-shirts, posters and related collectables, has become a top-selling category following successes of “Breaking Bad,” “The Walking Dead,” and the build up to theatrical release Star Wars: The Force Awakens, at entertainment retailers, including GameStop and MovieStop.
“In addition, the performance of our 10 new and remodeled f.y.e. stores is exceeding our expectations,” CEO Mike Feurer said in a statement.