Trans World Entertainment Corporation (TWMC) saw its loss widen to $8.09 million, or $0.26 a share for the quarter ended Oct. 29, 2016. In the previous year period, the company reported a loss of $4.33 million, or $0.14 a share.

Revenue during the quarter dropped 4.01 percent to $66.28 million from $69.05 million in the previous year period. Gross margin for the quarter expanded 27 basis points over the previous year period to 40.54 percent. Operating margin for the quarter stood at negative 11.94 percent as compared to a negative 5.50 percent for the previous year period.

Operating loss for the quarter was $7.92 million, compared with an operating loss of $3.80 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at negative $3.16 million compared to negative $2.57 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 4.77 percent for the quarter compared to negative 3.72 percent in the last year period.

"Our quarter was highlighted by the acquisition of etailz, which diversifies our business into the fastest growing segment of retail: the digital marketplace." commented Mike Feurer, Company chief executive officer. “Our operating results for the third quarter reflect the ongoing disruption in our heritage media categories and declines in mall traffic, each of which will continue to create headwinds in the fourth quarter. We have made strategic investments in capital and talent over the last two years as we reinvent our Company. We are well positioned for the upcoming holiday season both in-store and on-line," Mr. Feurer added.