Holiday Brings No Joy For Trans World Entertainment
Albany, N.Y., Trans World Entertainment reported a comps decrease of 7% for the five-week period ended Dec. 31, and a comps decline of 8% for the nine-week period ended the same date.
“Sales for the quarter have been affected by a general weakness in our industry,” said chairman and CEO Robert J. Higgins. He added that in light of Trans World’s disappointing holiday performance, the retailer’s earnings for its 2005 fiscal year are expected to be down from the prior year. He estimated earnings for the year will be zero to 5? per share, as compared to an earlier forecast of 25? to 30? per share.