Retailer Trans World Entertainment enjoyed a profitable first quarter of 2004, according to the company's latest financial results, released today (May 13).

Retailer Trans World Entertainment enjoyed a profitable first quarter of 2004, according to the company's latest financial results, released today (May 13).

Net income for the chain was up to $2.5 million, or 7 cents per diluted share, compared to a net loss of $5.1 million -- 13 cents per diluted share -- in the first quarter last year. The 2004 income number includes an extraordinary gain of $418,000 stemming from the company's acquisition of Wherehouse Entertainment Stores last year.

Sales for TWE in the first three months of 2004 totaled $304.5 million, up 11% from first-quarter 2003. Comparable store sales for the quarter were up 2% year-on-year.

TWE operates 850 stores in the United States and its territories.