Home / Knowledge / News / Apparel/Garments / Hot Topic reports Q1 financial results
Hot Topic reports Q1 financial results
May '11
Hot Topic Inc, reported results for its first quarter of fiscal 2011 (13 weeks) ended April 30, 2011.

The company reported a net loss in the first fiscal quarter of $7.7 million, or $0.17 per share, compared to a net loss of $1.8 million, or $0.04 per share, for the comparable period last year. The first quarter results include $12.4 million of expenses, or $0.17 per share, for the implementation of the previously announced charges for strategic business changes and cost reduction plan. On a non-GAAP basis, which excludes these charges, the first quarter results were $0.00 earnings per share.

Total sales for the first quarter of fiscal 2011 decreased 0.8% to $161.3 million compared to $162.6 million for the first quarter last year. Total company comparable store sales increased 0.2% for the first quarter of fiscal 2011.

At the end of the first quarter of fiscal 2011, the company operated 642 Hot Topic stores and 151 Torrid stores compared to 681 Hot Topic stores and 156 Torrid stores at the end of first quarter of fiscal 2010. During the first quarter of fiscal 2011, the company opened one Torrid store and closed fifteen Hot Topic stores and three Torrid stores. The company also remodeled or relocated eleven Hot Topic stores during the quarter.

The company issued second quarter guidance (13 weeks ending July 30, 2011) of a loss per share in the range of $0.09 to $0.11, which excludes approximately $3 million of costs associated with the above charges, compared to a loss per share of $0.14 last year. This guidance is based upon approximately flat comp sales for the second quarter.

As previously announced, the company will discontinue monthly sales reporting, effective in the third quarter of fiscal 2011. The company will report quarterly sales results on the first Wednesday following the close of each fiscal quarter. The company will continue to report monthly sales results through the end of the second quarter of fiscal 2011.

Hot Topic Inc

Must ReadView All

Textiles | On 20th Feb 2017

UK textile & apparel exports up 7.05% in 2016: UKFT

The exports of apparel and textiles from the UK have increased by...

Textiles | On 20th Feb 2017

Himatsingka Seide incorporates subsidiary in Europe

Himatsingka Seide Ltd, one of the largest producers of home textiles...

Courtesy: Green Initiatives

Apparel/Garments | On 20th Feb 2017

Green Initiatives launches Re:Form to end textile waste

Green Initiatives, a non-government institution, has launched...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Rashi Menda

Every fifth sale we make on Zapyle is a repeat purchase

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

February 2017

February 2017

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


Browse Our Archives


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