This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Trans World Entertainment's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Trans World Entertainment Corporation (TWMC)

Q1 2012 Results Earnings Call

May 17, 2012 10:00 AM ET

Executives

Bob Higgins – Chairman and CEO

Mike Honeyman – President and COO

Tom Seaver – Chief Financial Officer

Analysts

Harsha Gowda – Blue Shore

Bill Meyers – Miller Asset Management

Presentation

Operator

Good day, ladies and gentlemen. And welcome to the Trans World Entertainment First Quarter 2012 Results Conference Call. At this time, all lines are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will be given at that time. (Operator Instructions)

As a reminder, today’s conference call is being recorded. I would now like to turn the conference over to your host, Bob Higgins, Chairman and CEO. Please begin.

Bob Higgins

Thank you, Sean. Good morning. On the call with me today is Mike Honeyman, our President and Chief Operating Officer; and Tom Seaver, our Chief Financial Officer.

Thank you for joining us as we discuss our first quarter results. I’m pleased to announce that for the first quarter, our comparable store sales increased 1%. The comp sales increase coupled with a continued improvement in our gross margin rate and reduced SG&A expenses help drive our ninth consecutive quarter of improved operating results.

For the first quarter, our bottom line improved by $5.3 million to a net income of $2.8 million from a loss -- a net loss of $2.5 million in the first quarter of 2011. Total sales for the quarter decreased 15%, compared to last year’s first quarter to $112 million, as our average stores in operation also declined by 15%.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs