Hot Topic, Inc. Reports First Quarter Comp Sales Down 1.6%
CITY OF INDUSTRY, Calif. -- May 08, 2013
Hot Topic, Inc. (NASDAQ Global Select Market: HOTT) today announced the sales
results for its first fiscal quarter (13 weeks ended May 4, 2013). A summary
of the sales results by division (including Internet) is as follows:
Sales % Change
This Last $
Year (1) Year Millions
Hot Topic -2.4 % 9.5 % $ 121.8 -1.5 %
Torrid 1.0 % 2.5 % $ 53.0 10.7 %
Total Co. -1.6 % 7.5 % $ 174.8 1.9 %
(1) First quarter 2013 comparable sales are compared to the 13-week period
ended May 5, 2012 as fiscal year 2012 was a 53-week year.
Hot Topic, Inc. is a mall and web based specialty retailer operating the Hot
Topic and Torrid concepts, as well as a new test retail concept, Blackheart.
Hot Topic offers music/pop culture-licensed and music/pop culture-influenced
apparel, accessories, music and gift items for young men and women. Torrid
offers on-trend fashion apparel, lingerie and accessories inspired by and
designed to fit the young, voluptuous woman who wears size 12 and up.
Blackheart offers an expanded collection of dark, edgy, sexy lingerie,
accessories and beauty products. As of May 4, 2013, the company operated 621
Hot Topic stores in all 50 states, Puerto Rico and Canada, 195 Torrid stores,
9 Blackheart stores, and Internet stores hottopic.com, torrid.com and
This news release contains forward-looking statements, which may include
statements relating to financial results, guidance, store and online
operations (including closures, remodels and relocations), projections,
financial performance including cost reductions and changes in business
operations, and related matters. These statements involve risks and
uncertainties, including risks and uncertainties associated with meeting
expected financial results, fluctuations in sales and comparable sales
results, music, license 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 economic environment (including 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 February 2, 2013, 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.
Hot Topic, Inc.
George Wehlitz, CFO 626-839-4681 x2174
Jennifer Vides, 626-839-4681 x2970
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