Hot Topic Says Its Sales Increased 33%
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Hot Topic Inc., a retailer of apparel and accessories for teenagers, said it expects a third-quarter profit as sales increased 33% from a year earlier.
The profit for the quarter ended Nov. 2 was about 30 cents a share, the company said of preliminary earnings. For the year-earlier period, Hot Topic reported a profit of 39 cents a share. Third-quarter sales increased to $122.6 million from $92.1 million. Same-store sales increased 6.3% from a year earlier.
Hot Topic will release complete third-quarter results Nov. 20. Shares of City of Industry-based Hot Topic rose $1.08 to $22.48 on Nasdaq. The news was released after the close of regular U.S. trading.
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