Trans World Posts $5M Q1 Year-Over-Year Improvement

17 May, 2012 By: Erik Gruenwedel

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Trans World Entertainment May 17 reported first-quarter (ended April 28) net income of $2.8 million, compared with a net loss of $2.5 million during the previous-year period.

The owner and operator of the f.y.e. retail chain said same-store sales for the quarter increased 1%, compared with the same quarter last year. It marked the ninth consecutive quarter of improved operating results for the retailer of movie discs, music CDs, consumer electronics and trend items.

Total quarterly sales decreased 15% to $112.3 million, compared with $131.5 million in 2011. During the quarter, Trans World operated an average of 383 f.y.e. stores, compared to 451 f.y.e. stores last year, a 15% decline. 

“We were able to follow up our strong fiscal 2011 performance, with a terrific start to 2012,” said CEO Robert Higgins in a statement. “Our comp sales increase reflects our ability to drive business with a continued commitment to offering our customers a broad selection at great value coupled with a positive shopping experience.”

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