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Hot Topic reports third quarter EPS of $0.13
24
Nov '09
Hot Topic, Inc. reported net income in the third quarter of fiscal 2009 (13 weeks ended October 31, 2009) of $5.8 million, or $0.13 per share, compared to $7.4 million, or $0.17 per share, in the third quarter of fiscal 2008 (13 weeks ended November 1, 2008). The results for the third quarter of fiscal 2009 and fiscal 2008 include approximately $0.02 and $0.01 per share of expense, respectively, related to ShockHound, the company's online music site.

Total sales for the third quarter of fiscal 2009 decreased 3.9% to $189.6 million compared to $197.3 million for the third quarter last year. Total company comparable store sales declined 5.0% for the third quarter of fiscal 2009.

At the end of the third quarter of fiscal 2009, the company operated 680 Hot Topic stores and 156 Torrid stores compared to 683 Hot Topic stores and 158 Torrid stores at the end of the third quarter of fiscal 2008. During the third quarter of fiscal 2009, the company opened one Hot Topic store. The company also remodeled or relocated six Hot Topic stores during the quarter.

The company issued fourth quarter (13 weeks ending January 30, 2010) guidance of earnings in the range of $0.23 to $0.26 per diluted share based upon a high-single-digit decline in comparable store sales.

Hot Topic, Inc. is a mall and web based specialty retailer operating the Hot Topic and Torrid concepts, as well as the e-space music discovery concept, ShockHound. Hot Topic offers music/pop culture-licensed and music/pop culture-influenced apparel, accessories, music and gift items for young men and women principally between the ages of 12 and 22. Torrid offers apparel, lingerie, shoes and accessories designed for various lifestyles for plus-size females principally between the ages of 15 and 29.

Hot Topic Inc

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