Sure, it's surviving, but this hasn't been a 'record store' for quite some time. According to the latest financial disclosures, just 36% of Trans World Entertainment revenues are now derived from music, up a percent from last year. Trans World owns f.y.e. (for your entertainment), among other properties.
So what is the new mix? Well, videos—ie, DVDs—now comprise 44% of the revenue total, while games contribute 6%. The rest㬋%—comes from electronics, accessories and 'trend' items.
Sounds like a great diversification idea, and this was actually working for a while. But these days, physical goods are suffering, and Trans World is aggressively chopping stores. Over the year, the company shed 156 stores, and now operates 532 outlets.
That is helping to stop the bleeding, at least somewhat. During the fiscal year ending January 29th, Trans World shaved losses by 27 percent to $31 million. Overall, revenues tanked nearly 20 percent to $652.4 million.
So what is the new mix? Well, videos—ie, DVDs—now comprise 44% of the revenue total, while games contribute 6%. The rest㬋%—comes from electronics, accessories and 'trend' items.
Sounds like a great diversification idea, and this was actually working for a while. But these days, physical goods are suffering, and Trans World is aggressively chopping stores. Over the year, the company shed 156 stores, and now operates 532 outlets.
That is helping to stop the bleeding, at least somewhat. During the fiscal year ending January 29th, Trans World shaved losses by 27 percent to $31 million. Overall, revenues tanked nearly 20 percent to $652.4 million.
