CITY OF INDUSTRY, Calif., Oct. 4, 2006 (PRIMEZONE) -- Hot Topic, Inc. (Nasdaq:HOTT) today announced the following sales results for its fiscal month of September (five weeks ended September 30, 2006):
Comparable Store
Net Sales Sales % Change
----------------------- ----------------
% Change
to Last This Last
$ Millions Year Year Year
---------- --------- ------- -------
September $63.7 2% -7.3% -5.6%
Quarter-to-date $136.7 3% -6.6% -6.4%
Year-to-date $451.1 4% -7.3% -3.0%
For the quarter ending October 28, 2006, the company expects to be at the low end of the previously issued third quarter earnings guidance range of $0.16 to $0.18 per diluted share. This estimate assumes a mid-single digit comp sales decline in October.
For more detailed information on September sales results, please call 626-709-1209 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 September 30, 2006 the company operated 687 Hot Topic stores in all 50 states and Puerto Rico, 127 Torrid stores, and Internet stores www.hottopic.com and www.torrid.com.
In addition to historical information, this news release and the aforementioned prerecorded 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, litigation proceedings and contingent liabilities, 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 28, 2006. 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.