Trans World Entertainment Announces Holiday Sales Results
January 04 2018 - 5:00PM
Trans World Entertainment Corporation (NASDAQ:TWMC) today reported
sales results for the nine-week period ended December 30,
2017.
Nine weeks ended December 30, 2017
- Total consolidated sales for the period decreased 7% to $108
million as compared to the same period last year.
- Total sales for the etailz segment increased 42% to $36 million
as compared to the same period last year. etailz contributed
34% of consolidated sales for the period.
- Total sales for the fye segment decreased 21% to $72
million. The sales decline was due to a comparable store
sales decline of 12% and 11% fewer stores in operation.
“We are pleased with the strong sales results for
the etailz segment and encouraged by the developing opportunities
afforded to us by etailz,” commented Mike Feurer, Company
CEO. “The fye segment continues to be impacted by
declining mall traffic, the general accelerated decline in the
physical media business and the specific lack of strong franchises
resulting from the lowest summer box office in 25 years. This
negatively impacted our lifestyle categories as well. While
we are in the midst of continued structural challenges, we are
focused on efforts to differentiate our entertainment merchandise
and experience, while at the same time focused on rightsizing our
expenses and inventory levels. At the end of December, our
inventory per square foot was $67 as compared to $77 in the prior
year,” Mr. Feurer added.
11 months ended December 30, 2017
- Year to date comparisons to the prior year represent the
consolidated performance of etailz from October 17, 2016 through
December 30, 2016.
- Total consolidated sales for the period increased 26% to $406
million as compared to the same period last year.
- Total sales for the etailz segment were $158 million.
- Total sales for the fye segment decreased 15% to $248
million. The sales decline was due to a comparable store
sales decline of 9% and 7% fewer stores in operation.
Trans World Entertainment is a unique omni-channel
retailer coupling a long history of specialty retail experience
with digital marketplace expertise. For over 40 years,
the Company has operated as a leading specialty retailer of
entertainment and pop culture merchandise with stores in the United
States and Puerto Rico, primarily under the name fye (for your
entertainment) and on the web at www.fye.com and
www.secondspin.com. The Company also operates etailz, Inc., a
leading digital marketplace retailer, operating both domestically
and internationally. etailz uses a data driven approach to digital
marketplace retailing utilizing proprietary software and ecommerce
insight coupled with a direct customer relationship engagement to
identify new distributors and wholesalers, isolate emerging product
trends, and optimize price positioning and inventory purchase
decisions. Trans World Entertainment, which established itself as a
public company in 1986, is traded on the Nasdaq National Market
under the symbol “TWMC”.
Certain statements in this release set forth management's
intentions, plans, beliefs, expectations or predictions of the
future based on current facts and analyses. Actual results
may differ materially from those indicated in such
statements. Additional information on factors that may affect
the business and financial results of the Company can be found in
filings of the Company with the Securities and Exchange
Commission.
Contact:Trans World
EntertainmentJohn AndersonChief
Financial Officer(518) 452-1242
Contact:Financial
Relations BoardMarilynn
Meek(mmeek@frbir.com)(212)
827-3773
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