Same store sales declines of 3% for 5 and 9 week periods
Not wildly bullish in my view. But not catasprophic either.
Jan. 3, 2013-- Trans World Entertainment Corporation (TWMC) today reported a comparable store sales decrease of 3% for the five-week and nine-week periods ended December 29, 2012. Total sales for the nine-week period were $128 million compared to $155 million for the same period last year, a decrease of 17%. The Company operated an average of 14% fewer stores during the nine-week period as compared to last year.
For the eleven-month period ended December 29, 2012, comparable store sales decreased 1%. Total sales for the period decreased 16% to $423 million compared to $505 million during the same period last year. The Company operated an average of 14% fewer stores during the eleven month period as compared to last year.
Very simple and easy prediction.
When Q4 balance sheet is reported, TWMC will have more cash than the market cap as of this morning. They will also have substantially greater "other" assets (inventory mostly) then their total liabilities.
I also predict that while same store sales were -3%, the total gross profit on a same store comparison will be greater as they continue to increase margin mix year over year.