Trans World Entertainment Corp. Oct. 12 disclosed it has received formal notice from Nasdaq that its stock has traded below the $1-per-share minimum for the past 30 business days.
The Albany, N.Y.-based distributor, which operates the f.y.e. (For Your Entertainment) home entertainment retail chain, in addition to Etailz.com and related websites, has until April 8, 2019 to bring the stock price in compliance with Nasdaq rules or it will be subjected to delisting.
TWEC reported a loss of $8.1 million in the most recent fiscal period, which was 56% higher than the $5.2 million loss reported in the previous-year period. Revenue dropped nearly 5% to $96.6 million.
Mall-based f.y.e. revenue dropped nearly 17% to $54 million from $65 million during the previous period.