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Trans World Entertainment fiscal Q3 loss narrows YOY

Trans World Entertainment Corp. said its normalized net income for the fiscal third quarter ended Oct. 31 amounted to a loss of 9 cents per share, compared with a loss of 9 cents per share in the third quarter ended Nov. 1, 2014.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.7 million, compared with a loss of $2.8 million in the third quarter ended Nov. 1, 2014.

The normalized profit margin fell to negative 3.9% from negative 3.8% in the year-earlier period.

Total revenue decreased 6.3% year over year to $67.9 million from $72.5 million, and total operating expenses decreased 6.2% on an annual basis to $71.7 million from $76.4 million.

Reported net income came to a loss of $4.3 million, or a loss of 14 cents per share, compared to a loss of $4.5 million, or a loss of 14 cents per share, in the third quarter ended Nov. 1, 2014.