Albany, N.Y. -- Trans World Entertainment Corp. reported Thursday that it recorded a loss of $16.1 million in the third quarter, compared with a loss of $22.3 million a year earlier.
Total sales dropped 20% to $128.8 million. Same-store sales decreased 5%.
The company, which owns the f.y.e. (For Your Entertainment) chain of music stores, operated an average of 533 stores during the quarter, compared with 694 in the same quarter last year, a 23% decline.