ALBANY, N.Y.–(BUSINESS WIRE)–Jan. 3, 2000–Trans World Entertainment Corporation (Nasdaq National Market: TWMC) today reported a comparable store sales increase of 4% for the five-week period ended January 1, 2000. Quarter-to-date comparable store sales increased 3%. Total sales for the nine-week period ended January 1, 2000 were $428 million compared to $414 million during the same period last year.
Robert J. Higgins, Chairman and Chief Executive Officer of Trans World Entertainment commented, “Our quarter-to-date sales reflect the continued improvement in the performance of the Camelot stores acquired in April of this year.”
Comparable store sales for the Camelot stores increased 3% for the five weeks of December and were up 1% for the nine-week period. Excluding Camelot stores, comp sales increased 6% for the five weeks of December and 5% for the nine-week period.
For the eleven-month period ended January 1, 2000, comparable store sales increased 2%. Total sales for the eleven-month period were $1.27 billion compared to $1.20 billion during the same period last year.
Trans World Entertainment is a leading specialty retailer of music and video products. The Company operates retail stores in 44 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and an e-commerce site, www.twec.com. Mall locations include Record Town, Camelot, The Wall, Saturday Matinee and F.Y.E. Freestanding locations include Coconuts Music and Movies, Strawberries Music, Spec’s and Planet Music.
Certain statements in this report 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.
CONTACT: Trans World Entertainment Corporation John Sullivan, Chief Financial Officer 518/452-1242 ext. 7400 # # # or The MWW Group Investor Relations: 212/704-9727 Mary Rogers Ament or Leon Berman