Trans World to close more stores
Albany, N.Y. Trans World Entertainment Corp. announced plans to close a dozen more stores than it originally intended.
Trans World, parent company of such retail outlets as the F.Y.E. (For Your Entertainment) stores, already announced plans in November to close 137 locations. Now, the company has added another 12 stores to that list.
Trans World chairman and CEO Robert Higgins in a conference call with analysts Wednesday morning cited lower-than-expected holiday sales as the reason for closing nearly 150 outlets in the coming months. Same-store sales during the nine-week holiday shopping period, which ended on Jan. 2, were off 8%, dropping from $287 million to $241 million.
“A key part of our strategy is closing under performing stores as we work to turn the business around,” Higgins said.
The company will end its fiscal year with 553 stores, or 161 fewer than it had 12 months ago.
Apple App Store continues to dominate market
CUPERTINO, Calif. Apple announced that more than three billion apps have been downloaded from its App Store by iPhone and iPod touch users worldwide.
“Three billion applications downloaded in less than 18 months–this is like nothing we’ve ever seen before,” said Steve Jobs, Apple’s CEO. “The revolutionary App Store offers iPhone and iPod touch users an experience unlike anything else available on other mobile devices, and we see no signs of the competition catching up anytime soon.”
iPhone and iPod touch customers in 77 countries worldwide can choose from a range of apps in 20 categories, including games, business, news, sports, health, reference and travel.
Disney to open in Times Square
PASADENA, Calif. Disney Store announced that it will set up shop in New York’s Times Square with a state-of-the-art, interactive retail destination set to open in fall 2010.
According to the company, Disney Store will incorporate technologically advanced displays including an interactive Disney Princess castle to serve as one of many magical centerpieces at the new Times Square location. The store will also include an all-new children’s theater will feature the latest Disney entertainment and classic animation.
“Bringing Disney Store to the center of Times Square is a monumental achievement, and we have created a retail experience that complements the energy and innovation that Times Square inspires,” said Jim Fielding, president of Disney Stores Worldwide. “We’re focused on reinvigorating retail and providing a unique shopping destination to millions of families from all over the world who travel to New York for a magical experience.”
“Disney’s bold move to restore 42nd Street’s greatest landmark theater in the 1990s was the turning point in Times Square’s recent history. We are thrilled that Disney is bringing its creative energies yet again to Times Square with this new Disney Store. An iconic brand is coming again to America’s most iconic place,” said Tim Tompkins, president of Times Square Alliance.