Home / Knowledge / News / Apparel/Garments / Vertical sourcing system may improve Hot Topic performance
Vertical sourcing system may improve Hot Topic performance
17
May '12
Hot Topic Inc. reported results for its first quarter of fiscal 2012 (13 weeks) ended April 28, 2012.

The company reported net income in the first fiscal quarter of $3.8 million, or $0.09 per share, compared to a net loss of $7.7 million, or $0.17 per share, for the comparable period last year.

The results for the first quarter of 2011 include $12.4 million of expenses, or $0.17 per share, for the implementation of the strategic business changes and cost reduction plan. On a non-GAAP basis, which excludes these charges, the first quarter of 2011 results were $0.00 earnings per share.

Total sales for the first quarter of fiscal 2012 increased 6.4% to $171.5 million compared to $161.3 million for the first quarter last year. Total company comparable store sales increased 7.5% for the first quarter of fiscal 2012. A summary of the sales results by division was included in the first quarter sales release.

“Our first quarter sales and earnings increases at both the Hot Topic and Torrid brands exceeded our early expectations. The quarterly results demonstrate the success of our key strategies of returning the Hot Topic brand to its edgy, dark and sexy core, as well as bringing true fashion to the Torrid brand,” said Lisa Harper, Hot Topic, Inc. Chairman, and Chief Executive Officer.

“We are encouraged by the significant progress we have made over the past year to build a culture of progress, success and results at Hot Topic, Inc.,” Harper said. “Looking ahead, we believe our new systems, vertical sourcing, reinvigorated product offering and substantial unit growth at the Torrid brand will help us to generate continuous improvement across the businesses in the coming periods.”

At the end of the first quarter of fiscal 2012, the company operated 624 Hot Topic stores and 164 Torrid stores compared to 642 Hot Topic stores and 151 Torrid stores at the end of first quarter of fiscal 2011. During the first quarter of fiscal 2012, the company opened one Hot Topic store and 17 Torrid stores and closed five Hot Topic stores and one Torrid store. The company also remodeled or relocated 13 Hot Topic stores and one Torrid store during the quarter.

Hot Topic, Inc. is a mall and web based specialty retailer operating the Hot Topic and Torrid concepts. Hot Topic offers music/pop culture-licensed and music/pop culture-influenced apparel, accessories, music and gift items for young men and women. Torrid offers apparel, lingerie, shoes and accessories designed for various lifestyles for young plus-size women.

Hot Topic Inc

Must ReadView All

Courtesy: Li & Fung

Textiles | On 24th Mar 2017

Li & Fung forms new supply chain partnership with PVH Corp

Li & Fung Limited, the world's leader in consumer goods design,...

Courtesy: Alizilla

Apparel/Garments | On 24th Mar 2017

Alibaba's eWTP finds first overseas base in Malaysia

In a step towards using the internet to bring small businesses around ...

Textiles | On 24th Mar 2017

BJMC to produce cotton-jute blended denim fabrics

To meet demand from the market, Bangladesh Jute Mills Corporation...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search