ALBANY, N.Y., June 13 /PRNewswire-FirstCall/ — Trans World Entertainment
Corporation (Nasdaq: TWMC) announced today that Lori J. Schafer has been newly
elected to the Company’s Board of Directors. Ms. Schafer is currently
President of Marketmax, a company specializing in retail supply chain
technology solutions and a division of SAS Institute, the leader in business
“Lori has 21 years of expertise in retail and supply chain management
bringing a unique perspective to Trans World,” commented Robert J. Higgins,
Chairman and Chief Executive Officer of Trans World Entertainment. “Her
experience and knowledge make her an important addition to our team. I am
pleased to have Lori on our Board and look forward to working with her.”
Prior to its acquisition by SAS in October 2003, Ms. Schafer served as
Marketmax’s Chairman, President and Chief Executive Officer. Before launching
her career in retail consulting and software development, Ms. Schafer served
in various positions at The Procter & Gamble Company.
Ms. Schafer will also serve on the Nominating and Governance Committee.
Trans World Entertainment is a leading specialty retailer of music, video
and video game products. The Company operates over 800 retail stores in
46 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and
e-commerce sites, www.fye.com, www.coconuts.com, www.wherehouse.com and
www.secondspin.com. In addition to its mall locations, operated primarily
under the FYE brand, the Company also operates freestanding locations under
the names Coconuts Music and Movies, Strawberries Music, Wherehouse, CD World,
Spec’s, Second Spin and Planet Music.
Certain statements in this release set forth management’s intentions,
plans, beliefs, expectations or predictions of the future based on current
facts and analyses. Actual results may differ materially from those indicated
in such statements. Additional information on factors that may affect the
business and financial results of the Company can be found in filings of the
Company with the Securities and Exchange Commission.
SOURCE Trans World Entertainment Corporation
John J. Sullivan, EVP, Chief Financial Officer
Trans World Entertainment