Trans World Winter Holiday Same-store Sales Drop 7%5 Jan, 2011 By: Erik Gruenwedel
Trans World Entertainment Corp. Jan. 5 said winter holiday same-store sales (open at least 12 months) decreased 7% for the nine-week period ended Jan. 1, compared with the same period last year.
Albany, N.Y.-based Trans World, which operates 533 entertainment retail stores nationwide and related websites under the f.y.e., Suncoast and Second Spin brand names, said revenue fell 22% to $187 million from $241 million. The company operated 23% fewer stores during the period, compared with last year.
Same-store sales for the 11-month period ended Jan. 1 declined 4%, with revenue down 20% to $608 million, compared with $760 million during the same period last year.
The manager of a Second Spin location in Costa Mesa, Calif., said the retailer of previously viewed movie discs and music CDs continues to be profitable, which he attributed to the ongoing effects of the economy and consumer migration toward lower-cost home entertainment options.