Trans World Entertainment
Encyclopedia
Trans World Entertainment Corporation is a chain of entertainment media retail stores in the United States
. It currently operates just over 440 freestanding and shopping mall
-based stores under several brand names.
Based out of Albany, New York
, Trans World was founded in 1972 by Robert Higgins. It opened its first store, called Record Town (formerly Record Land), in 1973. The company went public in July 1986 and has expanded through acquisitions of a number of smaller or failing companies including Strawberries, Camelot Music
, and Wherehouse Entertainment.
In February 2006, Trans World acquired the Musicland
Group, which owned Sam Goody
, Suncoast Motion Picture Company
, and former online store Media Play
.
In September 2006, Trans World made bid for the bankrupt Tower Records
but lost to Great American Group, a liquidator
which closed the chain.
On January 7, 2009 Trans World announced same-store sales decreased 14 percent for the nine-week period that ended January 3, 2009 and total sales dropped 24 percent in the period. Some of the overall decline came as a result of closing 35 stores earlier in the year. Trans World was also in the process of closing another 69 stores during the holidays said Chief Financial Officer John J. Sullivan, "We would expect more closures to be announced soon." Trans World's holiday sales projections already were glum, but with the actual results now in, company officials are projecting losses for fiscal 2008 in the range of $20 million to $25 million.
On May 10, 2010, Mike Honeyman was appointed as President and Chief Operating Officer
of the company.
As of August 2011, Trans World's total number of stores stands at 442, down from about 540 in August 2010.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. It currently operates just over 440 freestanding and shopping mall
Shopping mall
A shopping mall, shopping centre, shopping arcade, shopping precinct or simply mall is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to easily walk from unit to unit, along with a parking area — a modern, indoor version...
-based stores under several brand names.
Based out of Albany, New York
Albany, New York
Albany is the capital city of the U.S. state of New York, the seat of Albany County, and the central city of New York's Capital District. Roughly north of New York City, Albany sits on the west bank of the Hudson River, about south of its confluence with the Mohawk River...
, Trans World was founded in 1972 by Robert Higgins. It opened its first store, called Record Town (formerly Record Land), in 1973. The company went public in July 1986 and has expanded through acquisitions of a number of smaller or failing companies including Strawberries, Camelot Music
Camelot Music
Camelot Music was a leading mall-based retailer of prerecorded music and accessories and was one of the largest music retailers in the United States based on store count....
, and Wherehouse Entertainment.
In February 2006, Trans World acquired the Musicland
Musicland
The Musicland Group, Inc. was an entertainment company which ran Sam Goody, Suncoast Motion Picture Company and the Media Play Superstore Chain. Musicland filed for Chapter 11 Bankruptcy in January 2006. Trans World Entertainment which runs FYE, and sells CDs, DVDs, and video games, purchased...
Group, which owned Sam Goody
Sam Goody
Sam Goody was a music and entertainment retailer in the United States and United Kingdom, and was owned and operated by Trans World Entertainment which also runs FYE, Saturday Matinee, and Suncoast Motion Picture Company. It specialized in music, video, and video game sales...
, Suncoast Motion Picture Company
Suncoast Motion Picture Company
Suncoast Motion Picture Company is an American chain of retail stores specializing in recorded videos, particularly movies but also carried television series. The stores have sold them in the VHS, Laser Disk, DVD, HD, and Blu-ray formats. The stores also carry various other items, including...
, and former online store Media Play
Media Play
Media Play was a chain of retail stores founded in 1992 by Musicland that sold movies on video, DVDs, music, Electronics, video games, books, and games in the United States. Each store essentially contained a book store, a movie store, a music store, and a video game store under one roof. At...
.
In September 2006, Trans World made bid for the bankrupt Tower Records
Tower Records
Tower Records was a retail music chain that was based in Sacramento, California. It currently exists as an international franchise and an online music store....
but lost to Great American Group, a liquidator
Liquidation
In law, liquidation is the process by which a company is brought to an end, and the assets and property of the company redistributed. Liquidation is also sometimes referred to as winding-up or dissolution, although dissolution technically refers to the last stage of liquidation...
which closed the chain.
On January 7, 2009 Trans World announced same-store sales decreased 14 percent for the nine-week period that ended January 3, 2009 and total sales dropped 24 percent in the period. Some of the overall decline came as a result of closing 35 stores earlier in the year. Trans World was also in the process of closing another 69 stores during the holidays said Chief Financial Officer John J. Sullivan, "We would expect more closures to be announced soon." Trans World's holiday sales projections already were glum, but with the actual results now in, company officials are projecting losses for fiscal 2008 in the range of $20 million to $25 million.
On May 10, 2010, Mike Honeyman was appointed as President and Chief Operating Officer
Chief operating officer
A Chief Operating Officer or Director of Operations can be one of the highest-ranking executives in an organization and comprises part of the "C-Suite"...
of the company.
As of August 2011, Trans World's total number of stores stands at 442, down from about 540 in August 2010.
Chains
- Saturday Matinee: CaliforniaCaliforniaCalifornia is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
, ColoradoColoradoColorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
, ConnecticutConnecticutConnecticut is a state in the New England region of the northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, and the state of New York to the west and the south .Connecticut is named for the Connecticut River, the major U.S. river that approximately...
, DelawareDelawareDelaware is a U.S. state located on the Atlantic Coast in the Mid-Atlantic region of the United States. It is bordered to the south and west by Maryland, and to the north by Pennsylvania...
, IllinoisIllinoisIllinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
, MarylandMarylandMaryland is a U.S. state located in the Mid Atlantic region of the United States, bordering Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware to its east...
, New JerseyNew JerseyNew Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
, New YorkNew YorkNew York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
, North CarolinaNorth CarolinaNorth Carolina is a state located in the southeastern United States. The state borders South Carolina and Georgia to the south, Tennessee to the west and Virginia to the north. North Carolina contains 100 counties. Its capital is Raleigh, and its largest city is Charlotte...
, VirginiaVirginiaThe Commonwealth of Virginia , is a U.S. state on the Atlantic Coast of the Southern United States. Virginia is nicknamed the "Old Dominion" and sometimes the "Mother of Presidents" after the eight U.S. presidents born there...
, TexasTexasTexas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, MississippiMississippiMississippi is a U.S. state located in the Southern United States. Jackson is the state capital and largest city. The name of the state derives from the Mississippi River, which flows along its western boundary, whose name comes from the Ojibwe word misi-ziibi...
, and PennsylvaniaPennsylvaniaThe Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to... - Suncoast Motion Picture CompanySuncoast Motion Picture CompanySuncoast Motion Picture Company is an American chain of retail stores specializing in recorded videos, particularly movies but also carried television series. The stores have sold them in the VHS, Laser Disk, DVD, HD, and Blu-ray formats. The stores also carry various other items, including...
: Nationwide (mall-based) - f.y.e.: Nationwide (mall-based and freestanding)
Defunct
- Camelot MusicCamelot MusicCamelot Music was a leading mall-based retailer of prerecorded music and accessories and was one of the largest music retailers in the United States based on store count....
- CD World and Streetside Records: New JerseyNew JerseyNew Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
and MissouriMissouriMissouri is a US state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. With a 2010 population of 5,988,927, Missouri is the 18th most populous state in the nation and the fifth most populous in the Midwest. It... - Coconuts: Chicago area, IndianapolisIndianapolisIndianapolis is the capital of the U.S. state of Indiana, and the county seat of Marion County, Indiana. As of the 2010 United States Census, the city's population is 839,489. It is by far Indiana's largest city and, as of the 2010 U.S...
area, New JerseyNew JerseyNew Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
, New York, and Mid-Atlantic States (some stores still operate as Coconuts) - Disc Jockey: Southern U.S. (mall-based)
- Harmony House: MichiganMichiganMichigan is a U.S. state located in the Great Lakes Region of the United States of America. The name Michigan is the French form of the Ojibwa word mishigamaa, meaning "large water" or "large lake"....
- Media PlayMedia PlayMedia Play was a chain of retail stores founded in 1992 by Musicland that sold movies on video, DVDs, music, Electronics, video games, books, and games in the United States. Each store essentially contained a book store, a movie store, a music store, and a video game store under one roof. At...
: Nationwide (closed in 2006) - On Cue: Nationwide
- Record Land: Nationwide (mall-based)
- Record Town: Nationwide (mall-based)
- Sam GoodySam GoodySam Goody was a music and entertainment retailer in the United States and United Kingdom, and was owned and operated by Trans World Entertainment which also runs FYE, Saturday Matinee, and Suncoast Motion Picture Company. It specialized in music, video, and video game sales...
: Nationwide (mostly freestanding; most mall-based stores have been re-branded as f.y.e. stores) - Spec's Music Inc.Spec's Music Inc.Spec's Music was a South Florida-based retail music and video rental chain headquartered in Miami. At its height of popularity, Spec's Music operated 49 stores, including "superstores" in Miami Beach, West Palm Beach, and Sunrise. The company's stores were located in malls, strip centers, and...
: FloridaFloridaFlorida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it... - Strawberries: TexasTexasTexas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, MarylandMarylandMaryland is a U.S. state located in the Mid Atlantic region of the United States, bordering Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware to its east...
, New EnglandNew EnglandNew England is a region in the northeastern corner of the United States consisting of the six states of Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut...
and Mid-Atlantic StatesMid-Atlantic StatesThe Mid-Atlantic states, also called middle Atlantic states or simply the mid Atlantic, form a region of the United States generally located between New England and the South... - Tape World: Nationwide (mall-based)
- The Wall: Mid-Atlantic StatesMid-Atlantic StatesThe Mid-Atlantic states, also called middle Atlantic states or simply the mid Atlantic, form a region of the United States generally located between New England and the South...
- Wall To Wall Sound & Video / Listening Booth: Mid-Atlantic States, later converted to The Wall
- Planet Music: Virginia Beach
- SecondSpin.com: CaliforniaCaliforniaCalifornia is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
, ColoradoColoradoColorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
(still in operation, but only 3 stores remain.) - Wherehouse Music: ArizonaArizonaArizona ; is a state located in the southwestern region of the United States. It is also part of the western United States and the mountain west. The capital and largest city is Phoenix...
, CaliforniaCaliforniaCalifornia is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
, ColoradoColoradoColorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
(formerly Rocky Mountain Records), GeorgiaGeorgia (U.S. state)Georgia is a state located in the southeastern United States. It was established in 1732, the last of the original Thirteen Colonies. The state is named after King George II of Great Britain. Georgia was the fourth state to ratify the United States Constitution, on January 2, 1788...
, LouisianaLouisianaLouisiana is a state located in the southern region of the United States of America. Its capital is Baton Rouge and largest city is New Orleans. Louisiana is the only state in the U.S. with political subdivisions termed parishes, which are local governments equivalent to counties...
, MissouriMissouriMissouri is a US state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. With a 2010 population of 5,988,927, Missouri is the 18th most populous state in the nation and the fifth most populous in the Midwest. It...
, New MexicoNew MexicoNew Mexico is a state located in the southwest and western regions of the United States. New Mexico is also usually considered one of the Mountain States. With a population density of 16 per square mile, New Mexico is the sixth-most sparsely inhabited U.S...
, OklahomaOklahomaOklahoma is a state located in the South Central region of the United States of America. With an estimated 3,751,351 residents as of the 2010 census and a land area of 68,667 square miles , Oklahoma is the 28th most populous and 20th-largest state...
, OregonOregonOregon is a state in the Pacific Northwest region of the United States. It is located on the Pacific coast, with Washington to the north, California to the south, Nevada on the southeast and Idaho to the east. The Columbia and Snake rivers delineate much of Oregon's northern and eastern...
, TexasTexasTexas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, UtahUtahUtah is a state in the Western United States. It was the 45th state to join the Union, on January 4, 1896. Approximately 80% of Utah's 2,763,885 people live along the Wasatch Front, centering on Salt Lake City. This leaves vast expanses of the state nearly uninhabited, making the population the...
, VirginiaVirginiaThe Commonwealth of Virginia , is a U.S. state on the Atlantic Coast of the Southern United States. Virginia is nicknamed the "Old Dominion" and sometimes the "Mother of Presidents" after the eight U.S. presidents born there...
, and Washington