Trans World Entertainment Announces Holiday Sales Results
TRANS WORLD ENTERTAINMENT (TWMC)
US:NASDAQ Investor Relations:
twec.com
Company Research
Source: GlobeNewswire
ALBANY, N.Y., Jan. 04, 2018 (GLOBE NEWSWIRE) -- 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
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