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Trans World CEO Buys Bigger Stake



By : Erik Gruenwedel | Posted: 24 Mar 2010


Buoyed by the first quarterly profit in three years, Trans World Entertainment Corp. founder and CEO Robert Higgins acquired 127,096 shares of common stock from March 9 to March 11 for about $175,000, according to a regulatory filing.

Albany, N.Y.-based Trans World operates the F.Y.E. (for your entertainment) retail chain, Second Spin used product stores and related Web sites.

Higgins upped his stake to 13.7 million shares, which represents nearly 44% of the company’s outstanding shares.

Trans World posted fourth-quarter (ended Jan. 30) net income of $11.4 million, compared with a net loss of $9.4 million during the previous-year period.

The company's shares were up 13 cents at $1.59 per share in after-hour trading.

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