Hot Topic declares $20mn stock repurchase

20 Aug '05
1 min read

California based Hot Topic Inc announced its Board of Directors (BOD) has approved the repurchase of up to $20 million of its Common Stock.

The Company intends to make repurchases from time to time on the open market at prevailing market prices or in negotiated transactions off the market. The repurchase is expected to continue through January 28, 2006 unless extended or shortened by the Board of Directors.

Share repurchases will be funded from existing cash. The timing and amount of any repurchases will be at the discretion of the Company's management.

Specialty retailer Hot Topic Inc is a national mall-based company, which offers apparel, accessories and gifts to young men and women principally between the ages of 12 and 22. Torrid, the Company's second concept, provides plus-size fashion-forward apparel and accessories that target young women principally between the ages of 15 and 29. As of July 30, 2005, the Company operated 628 Hot Topic stores in all 50 states and Puerto Rico and 100 Torrid stores.

Hot Topic Inc

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