“FYE” Might Stand For “Fire-Sale In Your Environment” Soon Enough

noah | January 8, 2009 3:45 am

Trans World, the owner of the perplexingly acronymed last-music-chain-standing FYE, announced its fourth-quarter earnings earlier this week, and the news was pretty bad: The company had a 14% year-to-year decline in same-store sales over the holiday season, a result that the CEO called “well below our expectations.” The conference call discussing the company’s quarterly results didn’t go so well, either, thanks to a caller who made a bunch of quite-salient points (including a note about an ominous year-to-year drop in DVD sales) that made one wonder whether or not the company has anything at all resembling a concrete plan to ride out the downturn in the economy, the music world, retail in general, etc. Fast forward to the 17-minute mark if you want to hear the diatribes of one “Bobby Melnick,” who by my count rendered the Trans World suits speechless at least three times. [Video News Wire via Velvet Rope]