CITY OF INDUSTRY, Calif., July 2, 2008 (PRIME NEWSWIRE) -- Hot Topic, Inc. (Nasdaq:HOTT) announced today that Michael Crooke, who was appointed the President of the company's Hot Topic division on June 2, 2008, is no longer with the company. In addition to her responsibilities as Chief Executive Officer of Hot Topic, Inc., Betsy McLaughlin has assumed oversight for the Hot Topic division.
Hot Topic, Inc. is a shopping mall-based specialty retailer operating the Hot Topic and Torrid concepts. Hot Topic offers music/pop culture licensed and influenced apparel, accessories, music and gift items 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, lingerie, shoes and accessories that target young women principally between the ages of 15 and 29. As of May 31, 2008, the company operated 683 Hot Topic stores in all 50 states and Puerto Rico, 156 Torrid stores, and internet stores www.hottopic.com and www.torrid.com.
Certain statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. Forward-looking statements include statements regarding the company's future growth and success, ability to execute its near and long-term goals, operations, projections, and other financial performance. These statements involve risks and uncertainties, including risks and uncertainties associated with meeting expected financial results, 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, new concepts, 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 February 2, 2008. 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. All forward-looking statements contained in this press release speak only as of the date on which they were made.