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TWE cuts quarterly losses
ALBANY, N.Y. — Trans World Entertainment reported a 78% improvement in net loss to $2.5 million, or 8 cents per share, for the first quarter as compared with a net loss of $11.4 million or 36 cents per share for the same period last year.
For the first quarter, total sales decreased 16% to $131.5 million compared with $156.5 million in 2010. Comparable-store sales for the quarter decreased 2%. During the quarter, the company operated an average of 451 stores compared with 548 stores last year, a 17.7% decline.
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Dollar Tree continues strong earnings streak
CHESAPEAKE, Va. — Dollar Tree reported 34.4% year-over-year EPS growth for the first quarter of 2011. Earnings per diluted share for the first quarter were 82 cents, compared with earnings per diluted share of 49 cents reported for the quarter ended May 1, 2010, which included a non-recurring, non-cash charge of $26.3 million relating to a retail inventory accounting change in the first quarter 2010.