CITY OF INDUSTRY, Calif., Jan. 9, 2008 (PRIME NEWSWIRE) -- Hot Topic, Inc. (Nasdaq:HOTT) today announced the sales results for its fiscal month of December (five weeks ended January 5, 2008). A summary of the sales results by division (including internet) is as follows:
Net Sales
--------------------
% Change
$ to Last Comparable Store
Millions Year (1) Sales % Change (2)
-------- --------- -------------------
DECEMBER:
Hot Topic $106.0 -8.4% -6.9%
Torrid $17.1 11.7% -0.9%
Total Co. $123.1 -6.0% -6.2%
QUARTER TO DATE:
Hot Topic $151.1 -7.0% -7.8%
Torrid $28.3 17.0% -0.8%
Total Co. $179.4 -3.9% -6.9%
YEAR TO DATE:
Total Co. $686.8 -1.6% -4.4%
(1) Compares the current fiscal periods to last year's reported
fiscal periods, ended December 30, 2006.
(2) Compares the current fiscal periods to the corresponding period
from the previous fiscal year.
The company announced that it now estimates net income for the fourth quarter of 2007 will be in the range of approximately $0.25 to $0.29 per diluted share versus previous guidance of $0.29 to $0.33 per diluted share.
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 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 January 5, 2008 the company operated 695 Hot Topic stores in all 50 states and Puerto Rico, 152 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, store operations, 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 February 3, 2007. 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.