Fiscal Loss at Trans World
Albany, N.Y., Trans World Entertainment Corp. reported total sales of $270 million for its third quarter ended Oct. 30, 2004, compared to $268.5 million for the same period last year. Same-store sales fell 2%. For the quarter, the net loss was $4.6 million or 14? per share compared to a net loss of $5.9 million or 16? per share for the same period in 2003.
“While games performed very well, reflecting the improvements we have made to product selection and merchandising, sales in our music and video categories were slightly below expectations,” said Robert J. Higgins, chairman and CEO, Trans World. The retailer operates approximately 850 stores under several banners, including FYE and Coconuts Music and Movies.
May, Abercrombie Post 3Q Results
New Albany, Ohio, Abercrombie & Fitch Co. posted net income of $40.1 million in the third quarter, down from $50.5 million in the year-ago period. The decline came despite a 17% increase in sales to $520.7 million and same-store sales growth of 1%.
In other financial news, The May Department Stores Co. recorded net earnings of $8 million in the third quarter, down from $47 million last year. Although the retailer’s net sales were 17% higher at $3.48 billion, the merchant’s same-store sales fell 3.4%.
Ahold Plans Move to Amsterdam
Zaandam, The Netherlands, Royal Ahold will move its headquarters from Zaandam to Amsterdam, probably in the fourth quarter of 2005, the grocery giant says. The company says the move is part of an overall repositioning of Ahold’s group support office.