CITY of INDUSTRY, Calif., April 8, 2009 (GLOBE NEWSWIRE) -- Hot Topic, Inc. (Nasdaq:HOTT) today announced the sales results for its fiscal month of March (five weeks ended April 4, 2009). A summary of the sales results by division (including Internet) is as follows:
Comparable Store
Net Sales Sales % Change
---------------------- ----------------------
% Change
$ To Last This Last
Millions Year Year Year
---------- ---------- ---------- ----------
MARCH:
Hot Topic $55.3 12.8% 10.6% -2.7%
Torrid $15.2 3.2% -5.9% -6.5%
Total Co. $70.5 10.6% 7.1% -3.5%
QUARTER TO DATE:
Hot Topic $99.4 13.3% 11.4% -3.0%
Torrid $28.4 7.7% -1.2% -2.8%
Total Co. $127.8 12.0% 8.7% -2.9%
The company raised its first quarter earnings guidance to the range of $0.01 to $0.02 per diluted share based upon a high-single-digit comparable store sales increase for the first quarter. Previous guidance for the company was in the range of a net loss of $0.01 to net earnings of $0.01 per diluted share based upon a comparable store sales increase in the mid-single- digit percentage range.
For more detailed information relating to the above matters, please call 626-709-1209 to listen to a recorded commentary.
Hot Topic, Inc. is a mall and web based specialty retailer operating the Hot Topic and Torrid concepts, as well as the e-space music discovery concept, ShockHound. Hot Topic offers music/pop culture-licensed and music/pop culture-influenced apparel, accessories, music and gift items for young men and women principally between the ages of 12 and 22. Torrid offers apparel, lingerie, shoes and accessories designed for various lifestyles for plus-size females principally between the ages of 15 and 29. ShockHound (www.shockhound.com) is a one-stop, genre-spanning music website where people of all ages can purchase MP3s and music merchandise, share their music interests and read music news and editorial content. As of April 4, 2009, the company operated 679 Hot Topic stores in all 50 states and Puerto Rico, 158 Torrid stores, and Internet stores www.hottopic.com, www.torrid.com and www.shockhound.com.
In addition to historical information, this news release and the aforementioned prerecorded commentary contain forward-looking statements, which may include statements relating to financial results, guidance, store operations, closures, remodels and relocations, projections and other financial performance. These statements involve risks and uncertainties, including risks and uncertainties associated with meeting expected financial results, fluctuations in sales and comparable store sales results, the new online music site, music and fashion trends, competition from other retailers, uncertainties generally associated with specialty retailing, technology and other risks associated with Internet sales, the effect of negative conditions in the global capital and credit markets, 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, relationships with mall developers and operators, relationships with our vendors, litigation proceedings and contingent liabilities, as well as other risks detailed in the company's SEC reports including its Annual Report on Form 10-K for the year ended January 31, 2009 and its Quarterly Reports on Form 10-Q. 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.