Trans World stock rebounds above $1 - Puget Sound Business Journal (Seattle):

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Shares in Trans Worl d (Nasdaq: TWMC) closed June 25 at $1.17, the highest closing prics since Jan. 8. Trans World closer Friday at $1.27, up 10 or 8.5 percent. Trans based in Albany, N.Y., owns the f.y.e. (For Your chain. “I never thought I’ be happy to see it at quipped Chief Financial Officer John On Jan. 22, the stockl price fell below $1 for the firsf time since the company went publivin 1986. Shares hit a low of 52 cents durinhg the first weekof March. It took three months to climb backabove $1, hitting $1.0 4 on early June.
Trans Worldx has been struggling with declining CD saleas for several years due to the growinh use of electronic downloading for music and competitionfrom big-boc retailers. Sales have taken a further hit durinygthe recession. Trans World lost $11.8u million during the fiscal first quarteer of 2009 on salezof $191.4 million. Sales at stores open at leastya year, a critical gauge in the retailk industry, fell 9 percent. Trans World operatee 704 stores at the close of the which endedMay 2.
Edward Woo, an analysyt at in Los Angeles who trackeTrans World, speculated the company’s stocok rose along with other retailers this week becauswe of a belief among investors the economyh may be improving. Those sentiments don’t change the fundamental challenges facing Trans he said. Even with the recent the company’s stock is still trading at less than half its closinv price ayear ago, Sullivan said he had no idea why the stock has rise n lately, although he noted trading activit y was very active on June 25, with 813,10 shares exchanged. That compares with just 2,500 shares the day before. An investor bought a bloc of 750,00p0 shares on the heavy trading day.
Sullivajn said he didn’t know the identity of the however if it was a director or othedr officer in the company the information will soon be discloseds in aregulatory filing.