Sales at the FYE chain continued to decline in the quarter ended January 28 and for the full year as its Trends category grew, reaching 38% of sales for the quarter, the company reported. Like other chains, FYE said it was affected by negative mall traffic; the chain also continues to experience massive declines in its heritage media categories.
Sales were down 9.8% for the quarter, with comparable store sales down 6.9% and the remainder due to a decline in the number of stores. This was roughly equivalent to its decline for the nine-week holiday period (see "Gamestop, FYE Report Sharp Holiday Sales Declines").
Trend sales were 38% of sales in the quarter, compared to 29% of sales in the same quarter a year ago. Video sales were down 20% for the quarter; music sales were down 22%.
Sales declined 7.7% for the full year, with a 31% increase in Trends and a 17% decline in packaged media sales. For the year, Trends were 32% of sales vs. 22% in the previous year. Store count was down about 5% to 284 stores vs. 299 at the end of the previous fiscal year.
Trans World Entertainment, the parent company, had a solidly profitable Q4, which pulled its net from a loss (see "TWE Losses Mount") to a $2.8 million profit, about the same as the $2.7 million profit a year ago. During 2016, TWE acquired e-commerce retailer Etailz (see "TWE Acquires E-Commerce Company Etailz"), pulling its overall sales up 20% for Q4, and 4.1% for the year.
As Same Store Sales Continue to Decline
Posted by Milton Griepp on March 22, 2017 @ 12:49 am CT
MORE GAMES
Box Set and Starter Kit for 'Cyberpunk RED'
May 7, 2024
R. Talsorian Games will release the Cyberpunk: Edgerunners Mission Kit , a new standalone box set and starter kit for Cyberpunk RED.
Saturday
May 7, 2024
The story of C2E2 in pictures continues in Part 3, with photos from Saturday.
MORE NEWS
Saturday
May 7, 2024
The story of the 15th annual C2E2 in pictures continues in Part 4, with more photos from Saturday.
Saturday
May 7, 2024
The story of the 15th annual C2E2 in pictures concludes in Part 5, with more photos taken on Saturday.