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#620465 - 01/07/09 08:28 PM
Trans World 14% Sales Decline
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DougMash
Gold Member
Registered: 04/20/04
Posts: 732
Loc: Rockville Centre, NY
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Looks like more closures coming soon...
[url=http://money.aol.com/news/articles/qp/pr/_a/trans-world-entertainment-reports-a/rfid173182730][/url]
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#620478 - 01/07/09 09:11 PM
Re: Trans World 14% Sales Decline
[Re: DougMash]
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WNY123
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Registered: 01/28/00
Posts: 786
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14%? That's IT?
_________________________
Don't settle for style. Succeed in substance - Wynton Marsalis
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#620497 - 01/07/09 10:33 PM
Re: Trans World 14% Sales Decline
[Re: WNY123]
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cathandler
Silver Member
Registered: 03/25/00
Posts: 419
Loc: Wherever I go, there I am
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I don't generally advocate listening to sales analyst conference calls except as a sleep aid, but seek forward to 17:17 and listen to Bobby Melnick tear Higgins a new one. Higgins keeps trying to shake him off with non-answers and Melnick won't let go. Priceless!
http://www.videonewswire.com/event.asp?id=54685 (registration required - fill the fields in with nonsense and you'll still get in)
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#620519 - 01/08/09 01:36 AM
Re: Trans World 14% Sales Decline
[Re: cathandler]
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Bill Lumbergh
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Registered: 02/21/01
Posts: 15368
Loc: Gigbag End, The Shire
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Thanks. That was sweet!
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#620545 - 01/08/09 07:06 AM
Re: Trans World 14% Sales Decline
[Re: cathandler]
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WNY123
Gold Member
Registered: 01/28/00
Posts: 786
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OUCH!!!!!!!
_________________________
Don't settle for style. Succeed in substance - Wynton Marsalis
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#620557 - 01/08/09 09:08 AM
Re: Trans World 14% Sales Decline
[Re: WNY123]
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Crunch!
Silver Member
Registered: 09/10/08
Posts: 330
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That was the beautiful. Their "we have a plan" protestations come off as "we have no plan".
They failed to address the DVD drop off in sales, which is commonly acknowledged as an industry-wide issue, not just a Trans-world problem.
To think that trend-merch will help these dinosaurs is as unlikely as them finding a trend buyer that could make the right purchases and integrate them into their hideous and over priced retail environments.
And are trend distributors paying co-op? I think not.
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#620599 - 01/08/09 11:29 AM
Re: Trans World 14% Sales Decline
[Re: Crunch!]
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jmassif
Diamond Member
Registered: 08/19/02
Posts: 5522
Loc: Town Called Massif
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Ha. Good stuff.
Transworld is definitely fishing around for some additional product assortment that will work within their stores. I know they've been sniffing around about expanding their small CE selection to be a bit broader, which could be a fool's errand should Circuit navigate their current circumstances.
Still, they could close a ton of stores or let the leases go, and I doubt many folks would notice. Definitely my local one, nicely located next to a K-B Toys.
_________________________
It's a well-known fact that reality has a liberal bias- Stephen Colbert
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#620609 - 01/08/09 11:41 AM
Re: Trans World 14% Sales Decline
[Re: jmassif]
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DougMash
Gold Member
Registered: 04/20/04
Posts: 732
Loc: Rockville Centre, NY
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They are shutting 69 more stores this year:
<Trans World (Nasdaq: TWMC) will close another 69 stores, on top of the 35 it has already shut this year. Others that were expected to close will stay open because the retailer was able to negotiate concessions from landlords.>
Never can get the links to work: http://sanjose.bizjournals.com/albany/stories/2009/01/05/daily28.html
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#620625 - 01/08/09 12:10 PM
Re: Trans World 14% Sales Decline
[Re: jmassif]
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Crunch!
Silver Member
Registered: 09/10/08
Posts: 330
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Ha. Good stuff.
Transworld is definitely fishing around for some additional product assortment that will work within their stores. I know they've been sniffing around about expanding their small CE selection to be a bit broader, which could be a fool's errand should Circuit navigate their current circumstances.
Still, they could close a ton of stores or let the leases go, and I doubt many folks would notice. Definitely my local one, nicely located next to a K-B Toys.
TWEC has flirted with lifestyle products for years and it's always been a disaster. Tower was just as bad with it, and Virgin hasn't been much better. And look what happened to them! Those maroons in Texas do a crap job, too. Only Newbury seems to really get this segment and make it work, although some of their stores are looking a little too Specer Gifts for my taste these days - but whatever works, I suppose.
I think TWEC has only got a couple of years left (if that) and it's not much of a loss. They're worse than Musicland ever was. Maybe your K-B and Transworld location can split their going out of business costs, or they can combine to be a Mediaplay.
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#620704 - 01/08/09 02:38 PM
Re: Trans World 14% Sales Decline
[Re: Crunch!]
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Deer Prudence
Silver Member
Registered: 12/09/08
Posts: 311
Loc: Springfield, IL
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I listened to that whole call. It was painful. It was negative, negative, negative and not a single real positive thing to report. IMO I don't think that even those guys on the call believe that Tranny has two years left. But I couldn't even believe how bad it got when Melnick got on the line. I think that somebody ought to create a Jerky Boy's like design for Bobby Melnick t shirt!
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#620706 - 01/08/09 02:40 PM
Re: Trans World 14% Sales Decline
[Re: Deer Prudence]
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Bill Lumbergh
Diamond Member
Registered: 02/21/01
Posts: 15368
Loc: Gigbag End, The Shire
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To think that those clueless fucks are the last ones standing in big record retail. Jeebus.
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#620709 - 01/08/09 02:53 PM
Re: Trans World 14% Sales Decline
[Re: Bill Lumbergh]
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jmassif
Diamond Member
Registered: 08/19/02
Posts: 5522
Loc: Town Called Massif
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Some unfortunate big lizard had to be the last dinosaur standing too...
_________________________
It's a well-known fact that reality has a liberal bias- Stephen Colbert
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#620748 - 01/08/09 04:02 PM
Re: Trans World 14% Sales Decline
[Re: jmassif]
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QueenSheDevilCow
Platinum Member
Registered: 12/16/06
Posts: 1857
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Any large retail chain that is in the business of primarily selling mass produced CDs, DVDs, books or video games is doomed. All of these industries are trending towards online, digital delivery as well as pricing pressures.
The only two options are liquidation or *completely* changing the stores, and I don't mean shifting towards DVDs and video games. I mean completely new stores. Maybe they can start selling clothes for teens. It sounds silly, but it sure seems to be working for Hot Topic.
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#620830 - 01/08/09 06:09 PM
Re: Trans World 14% Sales Decline
[Re: QueenSheDevilCow]
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Deer Prudence
Silver Member
Registered: 12/09/08
Posts: 311
Loc: Springfield, IL
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Just saw a bit on the news broadcasting from CES and during the banter between the reporters, the studio reporter mentioned some year in the 70s when they introduced the VCR. Then the reporter at CES said that she didn't even see DVD players of any sort at the convention and that it was all about TV sets that integrate internet. So we have seen what this did to the music industry and we all see that DVD is to follow and games are not far behind. If I can download games from the internet with my Wii, how long until physical game software is an obsolete delivery method?
The internet has finally answered our prayers of us not having to cluter our cramped apartments with thousands of CDs, DVDs and games. But the irony is that now nobody can afford to buy anything to fill those empty spaces.
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