Transworld Says Holiday Sales Down 6%
Trans World who operate stores under the Coconuts, Strawberries, Wherehouse, Sam Goody and Spec’s names is reporting a comparable store sales decrease of 6% for the five-week period ending December 30, 2006. Total sales for the five-week period increased 23% to $348 million compared to $284 million for the same period last year but the company operated 1,113 stores this year compared to 798 last year.
"Sales for the holiday season were below our expectations," commented Robert J. Higgins, Chairman and Chief Executive Officer of Trans World Entertainment. For the eleven-month period ended December 30, 2006, comparable store sales decreased 6%. Total sales for the period increased 17% to $1.353 billion compared to $1.160 billion during the same period last year.