Loss doubles for Hot Topic
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From Times Staff and Wire Reports
Teen apparel retailer Hot Topic Inc. said its second-quarter loss nearly doubled as same-store sales fell.
The loss for the quarter ended Aug. 4 was $1.7 million, or 4 cents a share, compared with a loss of $905,000, or 2 cents, a year earlier, City of Industry-based Hot Topic said. Revenue rose less than 1% to $161.7 million. Analysts expected a loss of 3 cents a share on revenue of $160.5 million.
Same-store sales, or stores open at least a year, fell 5.8% during the quarter.
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