"The first six months [of 2005] have been difficult for the industry and our company," said Robert Higgins, the company's chairman and CEO, during a conference call. "We look forward to the second half of the year."
Higgins blamed the results on a slowdown in the sales of music, videos and video games. The company has experienced similar droughts and will bounce back, he stressed.
Trans World's Q2 sales fell to $253.1 million from $277.2 million during the same year-ago period. Over the last six months, sales dropped to $538.5 million from $581.7 million during the first half of last year.
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