MUSIC NEWS - Albany, NY based music / video retailer. Trans World Entertainmet (owner of FYE and Suncoast stores) reported narrowed net losses in the second quarter in part due to store closures and expense reduction in response to continued weakness in USA retail sales. Trans World reported a net loss of $17.8 million, in the second quarter that ended August 1, compared to a net loss of $19.2 million, in the same period a year ago.
Trans World operated an average of 705 stores during the quarter, or 89 fewer stores than last year. Total sales fell 23 percent, to $165.7 million in the quarter. Sales in stores open a year, a critical gauge in retailing, fell 15 percent.
And at book / music / movie retailer, Barnes & Noble, their 2nd quarter #s reflected a decrease of 5%in store sales to $1.0 billion, with comparable store sales decreasing 6.9% for the quarter. MNN contacted the chain for music / movie sales figures with no response, but B&N president, Steve Reggio, has mentioned their reduction of "low margin" audio product from stores. It's been apparent from some time that B&N is reducing their audio selection to allow an expansion of Blu Ray
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