Hot Topic Sales Surprise Wall Street

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Hot Topic Inc. said late Wednesday that sales at stores open at least one year fell 1.8 percent last month from a year ago, not nearly as bad as analysts were expecting from the teen-oriented retailer.

Same-store sales for the five weeks ended Oct. 4 totaled $60.8 million, including $47.7 million from the City of Industry retailer’s mall stores. Net sales including newer stores increased 2.5 percent to $60.8 million.

Analysts surveyed by according to Thomson Reuters had expected the same-store sales to drop 4.3 percent on average. Sales in September 2007 had dropped 2.9 percent from the previous year.

Hot Topic shares, which closed down 8 percent to $4.92 before the report, jumped nearly 5 percent to $5.15 in after-hours trading on the Nasdaq.

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