LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Elon Musk Wins Reinstatement of Historic Tesla Pay Package After Delaware Supreme Court Ruling 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Republicans Raise National Security Concerns Over Intel’s Testing of China-Linked Chipmaking Tools 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program 
Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
Comparable store sales increase 2.5% for December
Strongest holiday comparable store sales in over ten years
ALBANY, N.Y., Jan. 07, 2016 (GLOBE NEWSWIRE) -- Trans World Entertainment Corporation (NASDAQ:TWMC) today reported comparable store sales for the December five-week period ended January 2, 2016 increased 2.5%. Comparable store sales for the nine-week holiday selling season ended January 2, 2016 increased 0.6%. Total sales for the nine-week period were $100 million compared to $104 million for the same period last year, a decrease of 3.9%. For the nine-week period, average square footage in operation declined 6.9% as compared to last year.
“Strategic investments we have made to our product assortments, inventory mix and the presentation in our stores drove December comparable store sales in our trend and electronic categories up 35% and they contributed 46% to our total sales versus 34% last year. In addition, the performance of our 10 new and remodeled stores are exceeding our expectations,” commented Mike Feurer, Company CEO. “Our customers continue to react positively as we work to deliver our vision of becoming the most compelling entertainment and pop culture centric engagement in the marketplace with a commitment to approach every customer with gratitude, humility and respect,” Mr. Feurer added.
Trans World Entertainment is a leading specialty retailer of entertainment and pop culture centric products, including video, trend, music, electronics and related products. The Company operates retail stores in the United States, the District of Columbia, and Puerto Rico, primarily under the names f.y.e. for your entertainment and Suncoast and on the web at www.fye.com and www.secondspin.com.
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 Entertainment John Anderson Chief Financial Officer (518) 452-1242 Contact: Financial Relations Board Marilynn Meek ([email protected]) (212) 827-3773
