Trans World Entertainment posts fourth consecutive annual loss

Albany, N.Y. -- Trans World Entertainment said that net income for the fourth quarter rose to $12.4 million $11.4 million as it continued to cut costs by closing more of its f.y.e. (For Your Entertainment) stores.



Total sales for the quarter fell 22%, to $231.2 million. Same-store sales fell 6%.



For fiscal 2010, Trans World posted its fourth consecutive annual net loss. The net loss for the year was $31 million, compared with a net loss of $42.4 million in fiscal 2009.



Total sales for the year declined 20% to $652.4 million, compared with $814 million in fiscal 2009. Same-store sales declined 4%.



Trans World operated an average of 532 stores during the year, compared with 688 in 2009.