Hot Topic Reports Dip in Same Store Sales

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Hot Topic Inc. said Wednesday afternoon that same-store sales fell 4 percent in June, although it was better than expected.


The struggling teen clothing retailer two months ago reported its third loss in the last five quarters. In addition, the City of Commerce-based company reported a 2.3 percent dip in same-store sales for the first quarter.


But the results for June beat expectations. A Thomson Financial poll found that analysts expected same-store sales to fall 6.7 percent during the month. Net sales also fell 1 percent to $61 million.


Earlier this year, the retailer that got its start selling Goth-themed black clothing announced plans to remodel about 80 of its 700 stores in an effort to revamp the brand. The company said the new-look stores would be brighter and carry lighter colored clothes.


Shares in Hot Topic closed up 9 cents but continued to gain another 21 cents, or 2 percent, in after-hours trading to $10.85. Shares in Hot Topic have lost more than 24 percent so far this year.

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