TWE returns improves profit in Q4

ALBANY, N.Y. Trans World Entertainment reported that, for the fourth quarter, total sales decreased 14% to $295.4 million compared with $344.7 million in 2008. Comparable-store sales for the quarter decreased 7%.

For the fourth quarter of 2009, the company recorded net income of $11.4 million, or 36 cents per share.  For the fourth quarter of 2008 the net loss was $9.4 million or 30 cents per share.

For fiscal year 2009, total sales decreased 18% to $814 million compared to $987.6 million in 2008.  Comparable-store sales for fiscal year 2009 decreased 10%.  

Net loss for fiscal 2009 was $42.4 million, or $1.35 per share.  For fiscal year 2008, the net loss was $69 million, or $2.21 per share.