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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Trans World Entertainment | NASDAQ:TWMC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.35 | 7.55 | 8.83 | 0 | 01:00:00 |
|
☒
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
☐
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
New York
|
14-1541629
|
|
State or Other Jurisdiction of Incorporation or Organization
|
I.R.S. Employer Identification No.
|
|
2818 N. Sullivan Rd. Ste 130
Spokane Valley, WA
|
99216
|
|
Address of Principal Executive Offices
|
Zip Code
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common Stock, $.01 par value per share
|
KSPN
|
NASDAQ Capital Market
|
Large accelerated filer ☐
|
Accelerated filer ☐
|
Non-accelerated filer ☒
|
Smaller reporting company ☒
|
Emerging growth company ☐
|
Form 10-Q
Page No.
|
|
PART I. FINANCIAL INFORMATION
|
|
Item 1 – Interim Condensed Consolidated Financial Statements (Unaudited)
|
|
4
|
|
|
|
5
|
|
|
|
6
|
|
|
|
7
|
|
|
|
8
|
|
9
|
|
22
|
|
29 | |
29 | |
PART II. OTHER INFORMATION
|
|
30
|
|
31
|
|
31
|
|
31
|
|
31
|
|
31
|
|
32
|
|
33
|
Thirteen Weeks Ended |
Twenty-six Weeks
Ended
|
|||||||||||||||
July 31,
2021
|
August 1,
2020
|
July 31,
2021
|
August 1,
2020
|
|||||||||||||
Net revenue
|
$
|
34,890
|
$
|
42,296
|
$ | 75,507 | $ | 73,885 | ||||||||
Cost of sales
|
26,055
|
31,611
|
56,876 | 55,283 | ||||||||||||
Gross profit
|
8,835
|
10,685
|
18,631 | 18,602 | ||||||||||||
Selling, general and administrative expenses
|
10,210
|
11,178
|
20,868 | 24,274 | ||||||||||||
Loss from operations
|
(1,375
|
)
|
(493
|
)
|
(2,237 | ) | (5,672 | ) | ||||||||
Interest expense
|
460
|
406
|
1,015 | 634 | ||||||||||||
Other (income) loss
|
(1,963 | ) | - | (1,963 | ) | - | ||||||||||
Income (loss) before income tax expense
|
128
|
(899
|
)
|
(1,289 | ) | (6,306 | ) | |||||||||
Income tax expense
|
46
|
-
|
46 | - | ||||||||||||
Net income (loss)
|
$
|
82
|
$
|
(899
|
)
|
$
|
(1,335 | ) |
$
|
(6,306 | ) | |||||
BASIC AND DILUTED INCOME PER SHARE:
|
||||||||||||||||
Basic income (loss) per common share
|
$
|
0.03
|
$
|
(0.49
|
)
|
$ | (0.56 | ) | $ | (3.46 | ) | |||||
Weighted average number of common shares outstanding – basic
|
2,491
|
1,825
|
2,404 | 1,823 | ||||||||||||
Diluted income (loss) per common share | $ | 0.03 | $ | (0.49 | ) | $ | (0.56 | ) | $ | (3.46 | ) | |||||
Weighted average number of common shares outstanding – diluted | 2,538 | 1,825 | 2,404 | 1,823 |
Thirteen Weeks Ended
|
Twenty-six Weeks Ended
|
|||||||||||||||
July 31,
2021
|
August 1,
2020
|
July 31,
2021
|
August 1,
2020
|
|||||||||||||
Net income (loss)
|
$
|
82
|
$
|
(899
|
)
|
$ | (1,335 | ) | $ | (6,306 | ) | |||||
Amortization of pension gain
|
-
|
1
|
- | 2 | ||||||||||||
Comprehensive income (loss)
|
$
|
82
|
$
|
(898
|
)
|
$ | (1,335 | ) | $ | (6,304 | ) |
Thirteen Weeks Ended July 31, 2021
|
||||||||||||||||||||||||||||||||
Number of shares outstanding
|
Accumulated
Other
Comprehensive
Loss
|
Retained
Earnings
(Accumulated
Deficit)
|
Shareholders’
Equity
|
|||||||||||||||||||||||||||||
Common
Shares
|
Treasury
Shares
|
Common
Stock
|
Additional
Paid-in
Capital
|
Treasury
Stock
At Cost
|
||||||||||||||||||||||||||||
Balance as of May 1, 2021
|
3,889
|
(1,410
|
)
|
$
|
39
|
$
|
358,749
|
$
|
(230,170
|
)
|
$
|
(2,007
|
)
|
$
|
(114,280
|
)
|
$
|
12,332
|
||||||||||||||
Net income
|
-
|
-
|
-
|
-
|
-
|
-
|
82
|
82
|
||||||||||||||||||||||||
Issuance of warrants
|
3
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||
Exercise of stock options
|
2
|
- |
-
|
51
|
-
|
-
|
-
|
51
|
||||||||||||||||||||||||
Common stock issued- Director grants
|
9
|
-
|
-
|
184
|
-
|
-
|
-
|
184
|
||||||||||||||||||||||||
Amortization of unearned compensation/restricted stock amortization
|
-
|
-
|
-
|
31
|
-
|
-
|
-
|
31
|
||||||||||||||||||||||||
Balance as of July 31, 2021
|
3,903
|
$
|
(1,410
|
)
|
$
|
39
|
$
|
359,016
|
$
|
(230,170
|
)
|
$
|
(2,007
|
)
|
$
|
(114,198
|
)
|
$
|
12,680
|
Twenty-six Weeks Ended July 31, 2021
|
||||||||||||||||||||||||||||||||
Number of shares outstanding
|
Accumulated
Other
Comprehensive
Loss
|
Retained
Earnings
(Accumulated
Deficit)
|
Shareholders’
Equity
|
|||||||||||||||||||||||||||||
Common
Shares
|
Treasury
Shares
|
Common
Stock
|
Additional
Paid-in
Capital
|
Treasury
Stock
At Cost
|
||||||||||||||||||||||||||||
Balance as of January 30, 2021
|
3,337
|
(1,410
|
)
|
$
|
33
|
$
|
346,495
|
$
|
(230,169
|
)
|
$
|
(2,007
|
)
|
$
|
(112,863
|
)
|
$
|
1,489
|
||||||||||||||
Net Loss
|
-
|
-
|
-
|
-
|
-
|
-
|
(1,335
|
)
|
(1,335
|
)
|
||||||||||||||||||||||
Other comprehensive income
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||
Issuance of warrants | 138 | - | 2 | - | (1 | ) | - | - | 1 | |||||||||||||||||||||||
Sales of shares, net of expense
|
417
|
-
|
4
|
12,227
|
-
|
-
|
-
|
12,231
|
||||||||||||||||||||||||
Exercise of stock options
|
2
|
- |
-
|
51
|
-
|
-
|
-
|
51
|
||||||||||||||||||||||||
Common stock issued- Director grants
|
9
|
-
|
-
|
184
|
-
|
-
|
-
|
184
|
||||||||||||||||||||||||
Amortization of unearned compensation/restricted stock amortization
|
-
|
-
|
-
|
59
|
-
|
-
|
-
|
59
|
||||||||||||||||||||||||
Balance as of July 31, 2021
|
3,903
|
|
(1,410
|
)
|
$
|
39
|
$
|
359,016
|
$
|
(230,170
|
)
|
$
|
(2,007
|
)
|
$
|
(114,198
|
)
|
$
|
12,680
|
Thirteen Weeks Ended August 1, 2020
|
||||||||||||||||||||||||||||||||
Number of shares outstanding
|
Accumulated
Other
Comprehensive
Loss
|
Retained
Earnings
(Accumulated
Deficit)
|
Shareholders’
Equity
|
|||||||||||||||||||||||||||||
Common
Shares
|
Treasury
Shares
|
Common
Stock
|
Additional
Paid-in
Capital
|
Treasury
Stock
At Cost
|
||||||||||||||||||||||||||||
Balance as of May 2, 2020
|
3,236
|
(1,410
|
)
|
$
|
32
|
$
|
346,442
|
$
|
(230,169
|
)
|
$
|
(1,476
|
)
|
$
|
(114,377
|
)
|
$
|
451
|
||||||||||||||
Net Loss
|
-
|
-
|
-
|
-
|
-
|
-
|
(899
|
)
|
(899
|
)
|
||||||||||||||||||||||
Other comprehensive income
|
-
|
-
|
-
|
-
|
-
|
3
|
-
|
3
|
||||||||||||||||||||||||
Issuance of warrants
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||
Vested restricted shares
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||
Common stock issued- Director grants
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||
Amortization of unearned compensation/restricted stock amortization
|
-
|
-
|
-
|
15
|
-
|
-
|
-
|
15
|
||||||||||||||||||||||||
Balance as of August 1, 2020
|
3,236
|
$
|
(1,410
|
)
|
$
|
32
|
$
|
346,457
|
$
|
(230,169
|
)
|
$
|
(1,473
|
)
|
$
|
(115,277
|
)
|
$
|
(430
|
)
|
Twenty-six Weeks Ended August 1, 2020
|
||||||||||||||||||||||||||||||||
Number of shares outstanding
|
Accumulated
Other
Comprehensive
Loss
|
Retained
Earnings
(Accumulated
Deficit)
|
Shareholders’
Equity
|
|||||||||||||||||||||||||||||
Common
Shares
|
Treasury
Shares
|
Common
Stock
|
Additional
Paid-in
Capital
|
Treasury
Stock
At Cost
|
||||||||||||||||||||||||||||
Balance as of February 1, 2020
|
3,226
|
(1,409
|
)
|
$
|
32
|
$
|
345,102
|
$
|
(230,169
|
)
|
$
|
(1,479
|
)
|
$
|
(108,971
|
)
|
$
|
4,515
|
||||||||||||||
Net Loss
|
-
|
-
|
-
|
-
|
-
|
-
|
(6,306
|
)
|
(6,306
|
)
|
||||||||||||||||||||||
Other comprehensive income
|
-
|
-
|
-
|
-
|
-
|
6
|
-
|
6
|
||||||||||||||||||||||||
Vested restricted shares
|
4
|
(1
|
)
|
-
|
(9
|
)
|
-
|
-
|
-
|
(9
|
)
|
|||||||||||||||||||||
Common stock issued- Director grants
|
6
|
-
|
-
|
243
|
-
|
-
|
-
|
243
|
||||||||||||||||||||||||
Amortization of unearned compensation/restricted stock amortization
|
-
|
-
|
-
|
285
|
-
|
-
|
-
|
285
|
||||||||||||||||||||||||
Balance as of August 1, 2020
|
3,236
|
$
|
(1,410
|
)
|
$
|
32
|
$
|
346,457
|
$
|
(230,169
|
)
|
$
|
(1,473
|
)
|
$
|
(115,277
|
)
|
$
|
(430
|
)
|
Twenty-Six Weeks Ended
|
||||||||
July 31,
2021
|
August 1,
2020
|
|||||||
OPERATING ACTIVITIES:
|
||||||||
Net loss
|
$
|
(1,335
|
)
|
$
|
(6,306
|
)
|
||
Adjustments to reconcile net loss to net cash used in operating activities:
|
||||||||
Depreciation of fixed assets
|
710
|
493
|
||||||
Amortization of intangible assets
|
514
|
514
|
||||||
Stock-based compensation
|
243
|
284
|
||||||
Amortization of ROU asset
|
295
|
281
|
||||||
Amortization of warrant interest
|
139 | - | ||||||
Interest on long term debt
|
386 | - | ||||||
Change in cash surrender value
|
(421
|
)
|
(57
|
)
|
||||
Forgiveness of PPP Loan
|
(1,963 | ) | - | |||||
Changes in operating assets and liabilities that provide (use) cash:
|
||||||||
Accounts receivable
|
(88
|
)
|
1,901
|
|||||
Merchandise inventory
|
(509
|
)
|
(2,739
|
)
|
||||
Prepaid expenses and other current assets
|
(492
|
)
|
2,054
|
|||||
Other long-term assets
|
185
|
-
|
||||||
Accounts payable
|
(1,294
|
)
|
1,978
|
|||||
Accrued expenses and other current liabilities
|
(522
|
)
|
(6,242
|
)
|
||||
Other long-term liabilities
|
(782
|
)
|
(49
|
)
|
||||
Net cash used in operating activities
|
(4,934
|
)
|
(7,888
|
)
|
||||
INVESTING ACTIVITIES:
|
||||||||
Purchases of fixed assets
|
(743
|
)
|
(588
|
)
|
||||
Proceeds from sale of fye business
|
-
|
11,779
|
||||||
Net cash provided by (used in) investing activities
|
(743
|
)
|
11,191
|
|||||
FINANCING ACTIVITIES:
|
||||||||
Proceeds from short term borrowings
|
-
|
2,151
|
||||||
Proceeds from long term borrowings
|
-
|
4,401
|
||||||
Proceeds from issuance of warrants
|
-
|
836
|
||||||
Proceeds from PPP loan
|
-
|
2,018
|
||||||
Proceeds from stock offering
|
12,231 | - | ||||||
Proceeds from exercise of stock options
|
51
|
- | ||||||
Payments of PPP loan
|
(76 | ) | - | |||||
Issuance of director deferred shares and RSUs
|
-
|
237
|
||||||
Payment of short term borrowings
|
(6,339
|
)
|
(13,149
|
)
|
||||
Net cash provided by (used in) financing activities
|
5,867
|
(3,506
|
)
|
|||||
Net increase (decrease) in cash, cash equivalents, and restricted cash
|
190
|
(203
|
)
|
|||||
Cash, cash equivalents, and restricted cash, beginning of period
|
6,556
|
8,852
|
||||||
Cash, cash equivalents, and restricted cash, end of period
|
$
|
6,746
|
$
|
8,649
|
||||
Interest paid
|
$
|
142 |
$
|
118 |
Partner Obsession
|
Insights Driven
|
Simplicity
|
Innovation
|
Results
|
Ownership
|
Diversity and Teamwork
|
July 31, 2021
|
||||||||||||||||||||
Weighted
Average
Amortization
Period
(in months)
|
Original
Gross
Carrying
Amount
|
Accumulated
Impairment
|
Accumulated
Amortization
|
Net
Carrying
Amount
|
||||||||||||||||
Technology
|
60
|
$
|
6,700
|
$
|
2,587
|
$
|
4,048
|
$
|
65
|
|||||||||||
Trade names and trademarks
|
60
|
3,200
|
-
|
3,047
|
153
|
|||||||||||||||
$
|
9,900
|
$
|
2,587
|
$
|
7,095
|
$
|
218
|
(amounts in thousands)
|
January 30,
2021
|
Impairment
Expense
|
Amortization
Expense
|
July 31,
2021
|
||||||||||||
Amortized intangible assets:
|
||||||||||||||||
Technology
|
$
|
259
|
$
|
-
|
$
|
194
|
$
|
65
|
||||||||
Trade names and trademarks
|
473
|
-
|
320
|
153
|
||||||||||||
Net amortized intangible assets
|
$
|
732
|
$
|
-
|
$
|
514
|
$
|
218
|
Thirteen Weeks Ended
|
Twenty-six Weeks Ended
|
|||||||||||||||
(amounts in thousands)
|
July 31,
2021
|
August 1,
2020
|
July 31,
2021
|
August 1,
2020
|
||||||||||||
Amortized intangible assets:
|
||||||||||||||||
Technology
|
$
|
97
|
$
|
97
|
$
|
194
|
$
|
194
|
||||||||
Trade names and trademarks
|
160
|
160
|
320
|
320
|
||||||||||||
Total amortization expense
|
$
|
257
|
$
|
257
|
$
|
514
|
$
|
514
|
July 31,
2021
|
January 30,
2021
|
August 1,
2020
|
||||||||||
Cash and cash equivalents
|
$
|
2,570
|
$
|
1,809
|
$
|
3,337
|
||||||
Restricted cash
|
4,176
|
4,746
|
5,312
|
|||||||||
Total cash, cash equivalents and restricted cash
|
$
|
6,746
|
$
|
6,555
|
$
|
8,649
|
Number of
Shares
Subject To
Option
|
Weighted Average Exercise
Price
|
Weighted Average Remaining Contractual Term
|
||||||||||
Balance January 30, 2021
|
133,356
|
$
|
20.41
|
7.3
|
||||||||
Granted
|
6,637
|
25.69
|
9.9
|
|||||||||
Forfeited
|
(2,887
|
)
|
7.12
|
9.0
|
||||||||
Canceled
|
(1,400
|
)
|
34.60
|
-
|
||||||||
Exercised
|
(2,403
|
)
|
7.12
|
9.0
|
||||||||
Balance July 31, 2021
|
133,303
|
$
|
21.05
|
6.9
|
||||||||
Exercisable July 31, 2021
|
54,125
|
$
|
38.71
|
3.7
|
Thirteen Weeks Ended
|
Twenty-Six Weeks Ended
|
|||||||||||||||
(amounts in thousands)
|
July 31,
2021
|
August 1,
2020
|
July 31,
2021
|
August 1,
2020
|
||||||||||||
Interest cost
|
$
|
63
|
$
|
89
|
$
|
126
|
$
|
178
|
||||||||
Amortization of net gain(1)
|
-
|
(3
|
)
|
-
|
(6
|
)
|
||||||||||
Net periodic pension cost
|
$
|
63
|
$
|
86
|
$
|
126
|
$
|
172
|
• Partner Obsession
• Insights Driven
• Simplicity
• Innovation
|
• Results
• Ownership
• Diversity and Teamwork
|
|
Thirteen Weeks
Ended
|
Change
|
Twenty-Six Weeks
Ended
|
Change
|
||||||||
(amounts in thousands)
|
July 31,
2021
|
August 1,
2020
|
$
|
%
|
July 31,
2021
|
August 1,
2020
|
$
|
%
|
||||
Net Revenue
|
$ 34,890
|
$ 42,296
|
$ (7,406)
|
-17.5%
|
$ 75,507
|
$ 73,885
|
$1,622
|
2.2%
|
||||
Gross profit
|
8,835
|
10,685
|
(1,850)
|
-17.3%
|
18,631
|
18,602
|
29
|
0.2%
|
||||
% to sales
|
25.3%
|
25.3%
|
24.7%
|
25.2%
|
|
Thirteen weeks ended
|
Twenty-six weeks ended
|
||||||||||||||||||||||||||||||||||||||
Jul 31, 2021
|
August 1, 2020
|
Change
|
Jul 31, 2021
|
August 1, 2020
|
Change
|
|||||||||||||||||||||||||||||||||||
Amazon US
|
$
|
32,642
|
93.6
|
%
|
$
|
39,922
|
94.4
|
%
|
-18.2
|
%
|
$
|
70,158
|
92.9
|
%
|
$
|
69,887
|
94.6
|
%
|
0.4
|
%
|
||||||||||||||||||||
Amazon International
|
1,289
|
3.7
|
%
|
1,783
|
4.2
|
%
|
-27.7
|
%
|
3,557
|
4.7
|
%
|
3,013
|
4.1
|
%
|
18.1
|
%
|
||||||||||||||||||||||||
Other Marketplaces
|
507
|
1.5
|
%
|
294
|
0.7
|
%
|
72.4
|
%
|
885
|
1.2
|
%
|
519
|
0.7
|
%
|
70.5
|
%
|
||||||||||||||||||||||||
Subtotal Retail as a Service
|
34,438
|
98.7
|
%
|
41,999
|
99.3
|
%
|
-18.0
|
%
|
74,600
|
98.8
|
%
|
73,419
|
99.4
|
%
|
1.6
|
%
|
||||||||||||||||||||||||
Subscriptions
|
452
|
1.3
|
%
|
297
|
0.7
|
%
|
52.2
|
%
|
907
|
1.2
|
%
|
466
|
0.6
|
%
|
94.6
|
%
|
||||||||||||||||||||||||
Net revenue
|
$
|
34,890
|
100.0
|
%
|
$
|
42,296
|
100.0
|
%
|
-17.5
|
%
|
$
|
75,507
|
100.0
|
%
|
$
|
73,885
|
100.0
|
%
|
2.2
|
%
|
|
|
Thirteen Weeks Ended
|
|
|
Change
|
|
|
Twenty six Weeks
|
|
|
Change
|
|
||||||||||||||||||||
(amounts in thousands)
|
|
July 31, 2021
|
|
|
August 1, 2020
|
|
|
$
|
|
|
%
|
|
|
July 31, 2021
|
|
|
August 1, 2020
|
|
|
$
|
|
|
%
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Merchandise margin
|
|
$
|
15,936
|
|
|
$
|
19,447
|
|
|
$
|
(3,510
|
)
|
|
|
-18.1
|
%
|
|
$
|
34,656
|
|
|
$
|
33,901
|
|
|
$
|
755
|
|
|
|
2.2
|
%
|
% of net revenue
|
|
|
45.7
|
%
|
|
|
46.0
|
%
|
|
|
-0.3
|
%
|
|
|
|
|
|
|
45.9
|
%
|
|
|
45.9
|
%
|
|
|
0.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fulfillment fees
|
|
|
(5,393
|
)
|
|
|
(6,868
|
)
|
|
|
1,474
|
|
|
|
-21.5
|
%
|
|
|
(11,843
|
)
|
|
|
(11,865
|
)
|
|
|
22
|
|
|
|
-0.2
|
%
|
Warehousing and freight
|
|
|
(1,708
|
)
|
|
|
(1,894
|
)
|
|
|
187
|
|
|
|
-9.9
|
%
|
|
|
(4,182
|
)
|
|
|
(3,434
|
)
|
|
|
(748
|
)
|
|
|
21.8
|
%
|
Gross profit
|
|
$
|
8,835
|
|
|
$
|
10,685
|
|
|
$
|
(1,850
|
)
|
|
|
-17.3
|
%
|
|
$
|
18,631
|
|
|
$
|
18,602
|
|
|
$
|
29
|
|
|
|
0.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% of net revenue
|
|
|
25.3
|
%
|
|
|
25.3
|
%
|
|
|
|
|
|
|
|
|
|
|
24.7
|
%
|
|
|
25.2
|
%
|
|
|
|
|
|
|
|
|
|
|
Thirteen Weeks Ended
|
|
|
Change
|
|
|
Twenty-Six Weeks Ended
|
|
|
Change
|
|
||||||||||||||||||||
(amounts in thousands)
|
|
July 31, 2021
|
|
|
August 1, 2020
|
|
|
$
|
|
|
%
|
|
|
July 31, 2021
|
|
|
August 1, 2020
|
|
|
$
|
|
|
%
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Selling expenses
|
|
$
|
5,085
|
|
|
$
|
6,262
|
|
|
$
|
(1,177
|
)
|
|
|
-18.8
|
%
|
|
$
|
10,991
|
|
|
$
|
10,868
|
|
|
$
|
123
|
|
|
|
1.1
|
%
|
General and administrative expenses
|
|
|
5,125
|
|
|
|
4,916
|
|
|
|
209
|
|
|
|
4.3
|
%
|
|
|
9,877
|
|
|
|
13,406
|
|
|
|
(3,529
|
)
|
|
|
-26.3
|
%
|
Total SG&A expenses
|
|
$
|
10,210
|
|
|
$
|
11,178
|
|
|
$
|
(968
|
)
|
|
|
-8.7
|
%
|
|
$
|
20,868
|
|
|
$
|
24,274
|
|
|
$
|
(3,406
|
)
|
|
|
-14.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As a % of total revenue
|
|
|
29.3
|
%
|
|
|
26.4
|
%
|
|
|
|
|
|
|
|
|
|
|
27.6
|
%
|
|
|
32.9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of or for the
|
|
|
Change
|
|
||||||
|
|
|
|
|
Twenty-Six Weeks Ended
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
|
|
||||||
|
(amounts in thousands)
|
|
|
|
July 31,
2021
|
|
|
August 1,
2020
|
|
|
$
|
|
|||
|
Operating Cash Flows
|
|
|
|
$
|
(4,934
|
)
|
|
$
|
(8,087
|
)
|
|
$
|
3,153
|
|
|
Investing Cash Flows
|
|
|
|
|
(743
|
)
|
|
|
11,191
|
|
|
|
(11,934
|
)
|
|
Financing Cash Flows
|
|
|
|
|
5,867
|
|
|
|
(3,307
|
)
|
|
|
9,174
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital Expenditures(1)
|
|
|
|
|
(743
|
)
|
|
|
(588
|
)
|
|
|
(155
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash, Cash Equivalents, and Restricted Cash(2)
|
|
|
|
6,746
|
|
|
|
8,649
|
|
|
|
(1,903
|
)
|
|
|
Merchandise Inventory
|
|
|
|
|
25,024
|
|
|
|
20,576
|
|
|
|
4,448
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Included in Investing Cash Flows
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2)
|
Cash and cash equivalents per condensed consolidated balance sheets
|
|
|
$
|
2,570
|
|
|
$
|
3,337
|
|
|
|
|
|
|
|
Add: restricted cash
|
|
|
|
|
4,176
|
|
|
|
5,312
|
|
|
|
|
|
|
Cash, cash equivalents, and restricted cash
|
|
|
|
$
|
6,746
|
|
|
$
|
8,649
|
|
|
|
|
|
(A) |
Exhibits -
|
September 14, 2021
|
By: /s/ Kunal Chopra
|
|
|
Kunal Chopra
|
|
|
Chief Executive Officer
|
|
|
(Principal Executive Officer)
|
|
|
|
|
September 14, 2021
|
By: /s/ Edwin Sapienza
|
|
|
Edwin Sapienza
|
|
|
Chief Financial Officer
|
|
|
(Principal and Chief Accounting Officer)
|
1 Year Trans World Entertainment Chart |
1 Month Trans World Entertainment Chart |
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