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Hot Topic CEO pleased with improvements in sales
03
May '12
Hot Topic Inc. announced the sales results for its first fiscal quarter (13 weeks ended April 28, 2012).

During the first quarter of fiscal 2012, Hot Topic, Inc. began including internet sales in the computation of comparable sales. All prior year comparable sales results have been adjusted.

The company raised its first quarter earnings guidance to a range of $0.07 to $0.08 per share. Previous earnings guidance for the company was in the range of $0.02 to $0.05 per share based upon a comparable sales increase in the mid-single-digit percentage range.

Lisa Harper, Chairman of the Board and CEO, said “Our Hot Topic comps for Q1 were led by the improvement in fashion apparel, which validates our strategic direction. The positive comps at Torrid were on plan against a strong performance last year. We are pleased with the improvements in both businesses.”

The company issued second quarter guidance (13 weeks ending July 28, 2012) of a loss per share in the range of $0.04 to $0.06, as compared to a loss per share of $0.14 last year, which included $4.1 million of expenses, or $0.06 per share, for the charges related to strategic business changes and cost reduction plan. This guidance is based upon a comp sales increase in the low to mid-single-digit percentage range.

Hot Topic, Inc. is a mall and web based specialty retailer operating the Hot Topic and Torrid concepts.

Hot Topic Inc

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