Trans World Entertainment
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|Traded as||NASDAQ: TWMC|
|Headquarters||Albany, New York|
|Products||CD, Blu-ray, and DVD stores|
|Subsidiaries||Suncoast Motion Picture Company
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.
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. It is estimated that between 1995 and 2000 customers were overcharged by nearly $500 million and up to $5 per album.
Trans World operated at a net loss from 2006 to 2010. In fiscal year 2011 it turned a profit of $2.2 million (compared to a $31 million loss in FY 2010). The company closed some locations and increased margins on its products.
- 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)
- 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
- Media Play: Nationwide (closed in 2006)
- Music World: New England states
- On Cue: Nationwide
- Peaches: Nationwide
- Record Factory: Brisbane, CA
- 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, Michigan, 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: Arizona, California, Colorado (formerly Rocky Mountain Records), Georgia, Louisiana, Missouri, New Mexico, Oklahoma, Oregon, Texas, Utah, Virginia, and Washington
- Streetside Records: Missouri
- Vibrations: South Florida
- "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.
- 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
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