citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . march 2008 learn how and when to remove this template message trans world entertainment corporation type public traded as nasdaq twmc industry retail founded december 1972 headquarters albany new york products cd blu ray and dvd stores subsidiaries f.y.e. website www.twec.com trans world entertainment corporation is a chain of entertainment media retail stores in the united states . it currently operates just over 300 freestanding and shopping mall based stores under several brand names down from about 540 in august 2010 . 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 . on september 23 2000 trans world signed a definitive agreement to acquire the assets of waxworks and the deal was expected to close by the end of october . 1 as part of a 2002 settlement with 41 states over cd price fixing trans world entertainment along with retailers musicland and tower records agreed to pay a 3 million fine . 2 it is estimated that between 1995 and 2000 customers were overcharged by nearly 500 million and up to 5 per album . 3 in february 2006 trans world acquired the musicland group which owned sam goody suncoast motion picture company and media play . this also included a handful of on cue stores . on thursday march 1 2012 trans world reported its first fiscal year net income since 2006 . trans world swung to a 2.2 million profit in fiscal year 2011 compared to a net loss of 31 million in fiscal year 2010 . the turnaround at albany new york based trans world came about from cost cutting as the company continued to close unprofitable locations and higher gross margins on the products it sells . 4 on thursday may 17 2012 trans world reported a q1 net income of 2.8 million 5 which is a 5.3 million improvement from q1 in 2011 . trans world s stock price ended up 18 % on the day . 6 on monday july 9 2012 trans world announced that it named john anderson as acting chief financial officer . anderson has served in positions of increasing responsibility at trans world for over 18 years most recently serving as controller since september 2006 . 7 on thursday august 16 2012 trans world announced their q2 results ; the company reported a 5.4 million decrease in its net loss to 1.9 million or a loss of 0.06 per diluted share compared to a net loss of 7.3 million or a loss of 0.23 per diluted share for the same period last year . these results reflect the tenth consecutive quarter of improvements . 8 also on thursday august 16 2012 trans world announced that they plan to open several new packaged media retail stores entering the fourth quarter including a high profile location at annapolis mall in maryland starting at the end of september . 9 on wednesday november 28 2012 trans world had two important announcements . first they sold real property that they owned in south beach miami florida for 30 million . prior to the sale trans world has been leasing the property to walgreens . they purchased the property for just 7 million back in 2007 . secondly they announced a 0.47 per share special cash dividend payable to shareholders as of december 10 2012 . trans world will pay out 15 million in cash to shareholders in this dividend payout which will be made on december 26 2012 . the stock rose 8 % on the news . 10 contents 1 chains 1.1 defunct 2 references 3 external links chains edit suncoast motion picture company nationwide mall based secondspin.com california colorado focusing on purchase and resale of used media products manifest discs and tapes south carolina north carolina spin street music memphis mohegan sun casino in connecticut record & tape traders one location left in towson md f.y.e. nationwide mall based and freestanding defunct edit camelot music cd world new jersey and missouri coconuts chicago area indianapolis area new jersey new york and mid atlantic states some stores still operate as coconuts disc jockey southern u.s. mall based incredible universe nationwide 17 stores ; closed in 1996 six stores sold to fry s electronics ; joint venture with tandy corporation leopold s california 11 12 media play nationwide closed in 2006 music world new england states on cue nationwide peaches nationwide record factory brisbane ca 13 14 15 16 record land nationwide mall based record town nationwide mall based record world mid atlantic and new england states mall based sam goody nationwide mostly freestanding ; most mall based stores have been re branded as f.y.e. stores saturday matinee now only one location at rockaway townsquare in rockaway new jersey ; other locations closed or converted to suncoast ; previously operated in california colorado connecticut delaware illinois maryland new jersey new york north carolina virginia texas mississippi and pennsylvania spec s music inc. florida square circle nationwide mall based strawberries texas maryland new england and mid atlantic states tape world nationwide mall based the wall mid atlantic states wall to wall sound & video listening booth mid atlantic states later converted to the wall planet music virginia beach wherehouse entertainment gardena ca 13 arizona california colorado formerly rocky mountain records georgia louisiana missouri new mexico oklahoma oregon texas utah virginia and washington 17 streetside records missouri vibrations south florida references edit trans world invests in brick and mortar . cd price fixing suit settled for 143 million . billboard . 2002 10 01 . retrieved 2016 04 26 . stephen labaton 2000 05 11 . 5 music companies settle federal case on cd price fixing . the new york times . retrieved 2016 04 26 . demasi michael . fye owner trans world reports first fiscal year profit since 2006 . the business review . retrieved 8 may 2012 . trans world entertainment announces first quarter results . retrieved 2 june 2012 . trans world entertainment returns to profit in 1q . msnbc . retrieved 18 may 2012 . dead link newswire pr . trans world entertainment names john anderson acting chief financial officer . marketwatch . retrieved 9 july 2012 . the street . trans world entertainment . the street . retrieved 17 august 2012 . gruenwedel erik . trans world entertainment opening stores . home media magazine . retrieved 17 august 2012 . demasi michael . fye parent trans world sells miami real estate for 30m and announces cash dividend . the business review . retrieved 29 november 2012 . https books.google.com books id vyqeaaaambaj & pg pt19 & lpg pt19 & dq leopold % 27s was bought by the record factory & source bl & ots ar6nvnk2jq & sig htzhoqis83dzm1xsh8dp1bssowu & hl en http forums.stevehoffman.tv threads groovy old 1970 pic of tower records san francisco csn y deja vu just released only 2 88.308843 page 11 a b http articles.latimes.com 1986 06 13 business fi 11015 1 wherehouse entertainment https books.google.com books id 70qeaaaambaj & pg pt27 & lpg pt27 & dq % 22record factory % 22 brisbane & source bl & ots ecw8ldm8 k & sig z dm74rwwhy7sq28xv psjd6fiy & hl en http publicrecords.directory profiles sterling lanier.5512778.html billboard feb 3 1979 vol . 91 no. 5 record factory s parent company . mighty fine distributing . brisbane calif articles about wherehouse by date page 5 latimes external links edit wikimedia commons has media related to trans world entertainment . official website f.y.e. new york times trans world entertainment page retrieved from https en.wikipedia.org w index.php title trans world entertainment & oldid 737342664 categories companies based in new yorkmusic retailers of the united statescompanies established in 1972companies based in albany new yorkcompanies listed on nasdaqhidden categories all articles with dead external linksarticles with dead external links from november 2013articles needing additional references from march 2008all articles needing additional referencescommons category with page title same as on wikidata navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version in other projects wikimedia commons languages add links this page was last modified on 2 september 2016 at 04 25 . text is available under the creative commons attribution sharealike license ; 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