You Might Not Have Trans World To Kick Around For Long
It’s not a great time to be in the music business for anyone–especially if you insist on selling discs at or above list price. Trans World, the parent company of everyone’s favorite overpriced music retailer FYE, posted nearly 12 million dollars in losses for the first quarter, and the news could have been much worse for our blue-aproned friends. Trans World closed a distribution center to cover three million in losses in a quarter which saw the retailer lose 6% in last year’s sales. The news isn’t all bad, however: video games are up 11% and accessories are up 17%. Compact discs, however, were down 23%. Then again, there’s that Coldplay disc to save us all, right? Right? [Billboard]
