One item in Trans World's 8K report that really stood out was its digital strategy. Brick-and-mortar retailers have long struggled to properly mix its physical presence with a digital/online presence. n March of this year, Trans World acquired a controlling interest in Mix & Burn, which provides digital solutions to retailers. Consumers can create custom CDs or download digital content to portable media players or mobile phones.

Said Chairman and CEO Bob Higgins in a conference call:

"Our acquisition of Mix & Burn has accelerated our timetable for in-store downloading. In fact, we began testing digital download in a few stores in the third quarter."

When asked by an analyst how those tests were going, Higgins was short on details.

"We're seeing some stores that are doing well from a physical perspective. The digital piece of it is just brand new. So in January, we're going to expand to 25 stores. We're going to take on a region or two in regards to putting both a Burn and a Digital Solution in those stores."

Higgins added that it would cost "a couple hundred thousand dollars" to expand to 25 stores.