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Trans World Entertainment fiscal Q2 loss narrows YOY

Trans World Entertainment Corp. said its normalized net income for the fiscal second quarter ended Aug. 1 was a loss of 9 cents per share, compared with a loss of 10 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.8 million, compared with a loss of $3.2 million in the prior-year period.

The normalized profit margin climbed to negative 4.0% from negative 4.4% in the year-earlier period.

Total revenue decreased 6.2% year over year to $67.5 million from $71.9 million, and total operating expenses fell 6.6% year over year to $71.4 million from $76.5 million.

Reported net income came to a loss of $3.0 million, or a loss of 10 cents per share, compared to a loss of $5.1 million, or a loss of 16 cents per share, in the prior-year period.