Trans World Founder Buys Stock17 Jan, 2011 By: Erik Gruenwedel
Trans World Entertainment founder and CEO Robert Higgins bought nearly $50,000 in common shares of the company’s stock, according to a regulatory filing.
Higgins bought 29,487 in stock at prices ranging from $1.64 to $1.7 per share. He currently holds more than 14.5 million shares.
Albany, N.Y.-based Trans World operates 533 entertainment retail stores nationwide and related websites under the f.y.e., Suncoast and Second Spin brand names. It claims to be the largest national standalone retailer of movie discs and music CDs.
Trans World Jan. 5 said revenue during the nine-week holiday period fell 22%, to $187 million from $241 million in 2009. The company operated 23% fewer stores in 2010.