CITY OF INDUSTRY, Calif., Aug. 6, 2008 (PRIME NEWSWIRE) -- Hot Topic, Inc. (Nasdaq:HOTT) today announced the sales results for its fiscal month of July and fiscal second quarter (four weeks and thirteen weeks, respectively) ended August 2, 2008. 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
-------- -------- -------- --------
JULY:
Hot Topic $44.8 -1.1% -1.4% -8.9%
Torrid $11.4 10.2% -5.2% 0.5%
Total Co. $56.2 1.0% -2.1% -7.4%
SECOND QUARTER:
Hot Topic $127.2 -0.2% -0.6% -7.7%
Torrid $39.6 15.5% -2.1% 2.9%
Total Co. $166.8 3.2% -0.9% -5.8%
YEAR TO DATE:
Hot Topic $248.2 -1.3% -1.8% -6.1%
Torrid $77.6 15.1% -2.1% 5.0%
Total Co. $325.8 2.1% -1.9% -4.1%
The company raised its fiscal second quarter guidance to a net loss in the range of $0.01 to $0.02 per share. Previously the company's guidance was a net loss in the range of $0.02 to $0.04 per share.
For more detailed information relating to the above matters, please call 626-709-1209 to listen to a recorded commentary. Additionally, a conference call to discuss second quarter results, business trends, guidance and other matters is scheduled for August 20, 2008 at 4:30 PM (ET). The conference call number is 866-202-4367, pass code "Hot Topic," and will be accessible to all interested parties. It will also be webcast on the company's Investor Relations website located at http://investorrelations.hottopic.com. A replay of the conference call will be available at 888-286-8010, pass code 44743739, for approximately two weeks. In addition, a webcast replay of the conference call will be available on the company's Investor Relations website for approximately two weeks.
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 August 2, 2008, the company operated 684 Hot Topic stores in all 50 states and Puerto Rico, 158 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 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, 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.