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Trans World Entertainment fiscal Q2 loss widens YOY

Trans World Entertainment Corp. said its normalized net income for the fiscal second quarter ended Aug. 2 was a loss of 10 cents per share, compared with a loss of 5 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.2 million, compared with a loss of $1.6 million in the prior-year period.

The normalized profit margin declined to negative 4.4% from negative 1.9% in the year-earlier period.

Total revenue decreased 11.0% year over year to $71.9 million from $80.8 million, and total operating expenses fell 7.6% from the prior-year period to $76.5 million from $82.8 million.

Reported net income totaled a loss of $5.1 million, or a loss of 16 cents per share, compared to a loss of $2.5 million, or a loss of 8 cents per share, in the prior-year period.