Loss of $8.1 Million in Q2
Posted by Milton Griepp on August 30, 2019 @ 3:37 am CT
Sales at the fye chain were down 17.4% to $41.7 million from $50.5 million in Q2 2018. Almost all of that was due to store closures; comparable store sales were down only 1.2% from the year ago period. As has been the case recently, sales were up solidly (9.6%) in fye’s "lifestyle" category, which includes games and merch; while media sales were down dramatically (12.8%).
FYE Offering Exclusive Consumables”).
Trans World lost $8.1 million for the quarter, an improvement from the $9.5 million loss in the same quarter last year. The bulk of the operating losses were in fye.
The company completed a 1-20 reverse split of its stock on August 15, which kept its share price high enough to avoid delisting (see "Trans World Posts Q1 Loss of $7.8 Million").
Investors fled the stock after the earnings were announced Thursday, driving the price down 25%.
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