Trans World Entertainment sales measure declines
Trans World Entertainment says key sales measure dropped 3 pct in holiday shopping period
ALBANY, N.Y. (AP) -- Trans World Entertainment Corp.'s revenue at stores open at least a year fell 3 percent in the five weeks ended Dec. 29, the company said Thursday.
The retailer, which sells CDs, DVDs and video games at its f.y.e for your entertainment and Suncoast stores, said that figure fell by about the same amount in the nine weeks ended Dec. 29, a period that encompasses the crucial holiday shopping season.
Revenue from stores open at least a year is considered a key indicator of a retailer's financial performance. It measures results at established stores while stripping away the impact of recently opened or closed locations.
Total revenue for the nine-week period fell 17 percent to $128 million from a year earlier. The company had an average of 14 percent fewer stores this year.
Trans World, which is based in in Albany, N.Y., has been closing stores and slashing expenses as demand declines for CDs, videos and other media that are increasingly easy to download or stream online.
