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Trans World Entertainment Corporation Reports Operating Results (10-Q)

September 06, 2012 | About:
10qk

10qk

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Trans World Entertainment Corporation (TWMC) filed Quarterly Report for the period ended 2012-07-28.

Trans World Entertainment Corporation has a market cap of $103.8 million; its shares were traded at around $3.52 with a P/E ratio of 8.3 and P/S ratio of 0.2.

Highlight of Business Operations:

Net sales. Net sales decreased 15.7% and 15.1% during the thirteen and twenty-six weeks ended July 28, 2012, respectively, as compared to the same periods last year. The decline in sales for the thirteen and twenty-six week periods resulted from a decrease in store count of 13.9%. While the Company believes a meaningful amount of sales was transferred to ongoing stores, there was a reduction of sales resulting from store closings.

Video: Comparable store net sales in the video category increased 7% and 6% during the thirteen and twenty-six weeks ended July 28, 2012, respectively. The increase for the quarter was driven by a strong performance in our catalog business in both DVD and Blu-ray. According to Warner Brothers Home Video, industry sales were down 6% for the quarter. The video category represented 43.3% of total net sales for the thirteen weeks ended July 28, 2012 compared to 40.9% in the comparable quarter last year.

Electronics: Comparable store sales in the electronics category increased 9% and 14% during the thirteen and twenty-six weeks ended July 28, 2012, respectively. The increase was driven by expanded product lines and improved selection. Electronics sales represented 10.3% of total net sales for the thirteen weeks ended July 28, 2012 compared to 9.2% in the comparable quarter last year.

Trend: Comparable store sales in the trend category increased 13% and 14% during the thirteen and twenty-six weeks ended July 28, 2012, respectively. The increase was driven by expanded product lines and improved selection. Trend product represented 9.0% of total net sales for the thirteen weeks ended July 28, 2012 compared to 8.0% in the comparable quarter last year.

Video Games: Comparable store sales for video games decreased 12% and 11% during the thirteen and twenty-six weeks ended July 28, 2012, respectively. Currently, 108 stores, or 28% of the companys stores carry games. According to NPD Group, industry sales were down 26% for the quarter. Games sales represent 4.0% of total net sales for the thirteen weeks ended July 28, 2012 compared to 4.5% in the comparable quarter last year.

Read the The complete Report

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