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Trans World Entertainment fiscal Q3 loss widens 35.3% YOY

Trans World Entertainment Corp. said its normalized net income for the fiscal third quarter ended Nov. 1 came to a loss of 9 cents per share, compared with a loss of 6 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 $2.1 million in the year-earlier period.

The normalized profit margin dropped to negative 3.8% from negative 2.6% in the year-earlier period.

Total revenue fell 9.2% year over year to $72.5 million from $79.8 million, and total operating expenses fell 7.4% from the prior-year period to $76.4 million from $82.6 million.

Reported net income totaled a loss of $4.5 million, or a loss of 14 cents per share, compared to a loss of $3.3 million, or a loss of 10 cents per share, in the prior-year period.