Entertainment retailer Trans World Entertainment Corporation reported that sales for the company's fourth quarter, which ended on February 2nd, were down 23% from $586.7 million a year ago to $451.5 million in the most recent quarter (though it should be noted that this quarter included only 12 weeks versus 13 weeks in the previous year).  Comparable store sales were down 12% for the quarter.

For Trans World's fiscal year 2007, sales were down 14% to $1.266 billion from $1.471 billion in 2006, which contained 53 weeks in comparison to the 52-week fiscal year in 2007.  In 2007 comparable store sales decreased by 8% compared with 2006.

As the market for packaged music has declined drastically over the past few years Trans World has been shedding stores and trying to shift the focus of its stores, which operate primarily under the f.y.e. (For Your Entertainment) and Suncoast brands, from music to DVDs and related pop culture merchandise.  At the end of its 2006 fiscal year Trans World was operating 992 stores.  During its 2007 fiscal year the company shuttered 179 stores, reducing the primarily mall-based entertainment retailing chain, which remains a key anime retailer, to 813 outlets.