Trans World Entertainment Corporation (TWMC) has reported a 12,985.19 percent jump in profit for the quarter ended Apr. 29, 2017. The company has earned $3.53 million in the quarter, compared with $0.03 million for the same period last year.
Revenue during the quarter surged 34.65 percent to $101.97 million from $75.73 million in the previous year period. Gross margin for the quarter contracted 510 basis points over the previous year period to 35.60 percent. Operating margin for the quarter stood at negative 5.11 percent as compared to a negative 0.90 percent for the previous year period.
Operating loss for the quarter was $5.21 million, compared with an operating loss of $0.68 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at negative $1.08 million compared with $0.78 million in the prior year period. At the same time, adjusted EBITDA margin stood at negative 1.05 percent for the quarter compared to 1.03 percent in the last year period.
"Driven by the acquisition of etailz, total revenue for the quarter increased 35%. The increase in revenue highlights the digital diversification of the Company. We continue to focus on the growth potential of the primary etailz enterprise, the reinvention and stabilization of the fye brand, and the synergies afforded by the combination of the two," commented Mike Feurer, Company chief executive officer.
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