FYE leaving Colony Square Mall
August 2, 2018
FYE, which for years offered residents of Zanesville access to buying physical media such as CDs, DVDs and movie posters will soon be leaving their mall location.
A social media comment by an assistant manager at the Zanesville FYE store hinted at the company’s upcoming closure, on June 15, 2018.
Trans World Entertainment, owner of FYE stores, did not return Y-City New’s request for comment.
Repeated request for comment from John Anderson, Chief Financial Officer and public relations designee, were not returned.
Trans World Entertainment’s recent 2017 10-K filing noted, “As leases expire, the Company will evaluate the decision to exercise renewal rights or obtain new leases for the same or similar locations based on store profitability.”
Of the 260 stores, 197 have leases that expire this year, which would allow the company to dissolve unprofitable stores according to its recent 8-K filing.
Last year, the Zanesville FYE store moved locations in the mall, downsizing its square footage, while also falling in line with corporate practice to broaden merchandise offerings.
In 2016 alone, FYE observed a 15.7 percent decline in their music category sales, as customers continue to buy their music online or through services such as Spotify.
A final closing date has not been announced, but the store is currently offering 40 percent to 90 percent off everything in the store, including store furniture.