CITY OF INDUSTRY, Calif., Oct. 5, 2005 (PRIMEZONE) -- Hot Topic, Inc. (Nasdaq:HOTT) today announced the following sales results for its fiscal month of September (five weeks ended October 1, 2005):
Comparable Store
Net Sales Sales % Change
--------------------- ----------------
% Increase
$ to Last This Last
Millions Year Year Year
--------------------- ----------------
September $62.5 8% -5.6% 1.1%
Quarter-to-date $133.2 7% -6.4% -4.4%
Year-to-date $435.2 12% -3.0% -0.9%
The Company reiterated its third quarter earnings guidance of $0.15 to $0.18 per diluted share.
The Company also announced the repurchase of an aggregate of 345,000 shares of its Common Stock between September 16 and September 22, 2005 at an average cost of $14.34, which was pursuant to its Board of Directors' authorization of the repurchase of up to an aggregate of $20,000,000 of its Common Stock. The repurchase program is expected to continue through January 28, 2006, subject to appropriate market conditions, unless extended or shortened by the Board of Directors.
For more detailed information on September sales results, please call 888-286-8010 with pass code no. 71179951 to listen to a recorded commentary.
Hot Topic, Inc. is a national mall-based specialty retailer. Hot Topic 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 October 1, 2005 the Company operated 639 Hot Topic stores in all 50 states and Puerto Rico, 110 Torrid stores, and Internet stores www.hottopic.com and www.torrid.com.
In addition to historical information, this news release and the aforementioned recorded commentary contain forward-looking statements, which include statements relating to financial results, guidance, projections and other financial performance, and managing growth. These statements involve risks and uncertainties, including risks and uncertainties associated with meeting expected financial results, management of growth, relationships with mall developers and operators, the risk that available cash or mall space will not be adequate for planned expansion, fluctuations in sales and comparable store sales results, risks and uncertainties with respect to new store openings including risks associated with the Company's new store concepts and Internet stores, music and fashion trends, competition from other retailers, uncertainties generally associated with specialty retailing, the effect of economic conditions, the effect of severe weather or natural disasters, political and/or social changes or events that could negatively impact shopping patterns and/or mall traffic as well as other risks detailed in the Company's SEC reports, including its Quarterly Reports on Form 10-Q and its Annual Report on Form 10-K for the year ended January 29, 2005. Historical results achieved are not necessarily indicative of the future prospects of the Company, and actual results or circumstances could differ materially from the forward-looking statements.