Trans World Sees Holiday Hike5 Jan, 2005 By: Holly J. Wagner
DVDs helped Trans World Entertainment stores to a 2 percent hike in holiday comp-stores sales and a 1 percent increase for the last nine weeks of 2004, executives said.
“DVD sales were 33 percent of our business,” said CEO Robert Higgins, attributing gains of 20 percent in DVD sales and 11 percent for the video category to merchandising efforts and strong titles like Shrek 2, Spider-Man 2 and Harry Potter and the Prisoner of Azkaban.
Game sales were up 5 percent and accounted for 8 percent of total sales, on the strength of new releases Halo 2 and Grand Theft Auto: San Andreas, Higgins said, but music sales dipped 3 percent. Higgins noted that three hotly anticipated CDs were delayed and that the music industry doesn't match the movie industry for meting out titles. But Higgins is optimistic.
“DVDs, they [studios] just continue to manage their title selection well. We've got some real home runs coming,” Higgins said, looking forward to The Incredibles, A Shark Tale, The SpongeBob SquarePants Movie and The Grudge. “We expect January to be a very strong DVD month as well.”
Higgins credited Sony Pictures Home Entertainment's Seinfeld: The First Three Seasons with fueling sales.
“We had very good market share on that. It did extremely well and met or exceeded our expectation,” he said. “We're a Seinfeld [customer] base company, in the mid-Atlantic, and we did very well with it.”
Trans World will report its fourth-quarter financial results at the end of February.