Shares in Hot Topic Inc. gained 5 percent in after-market trading Wednesday after the retail chain announced February store sales declined 2.3 percent, which was a significantly lower dip than analysts expected.
Wall Street had expected the struggling retailer, which specializes in the teen clothing market, would report a sales decline of 4.4 percent, according to Thomson Financial.
The City of Industry-based retailer added that February sales totaled $50.4 million a 1.1 percent increase from the same period a year earlier.
Same-store sales for January fell 3.6 percent while total sales for that month fell 24 percent to $41.2 million.
Shares in hot Topic closed down 1 cent but rose to $5.83 in after-market trading.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Shares in Hot Topic Surge After May Sales Beat Estimates
- Hot Topic Reports Dip in Same Store Sales
- Hot Topic Sales Fall Less Than Expected
- Hot Topic's Same-Store Sales Dip
- Hot Topic Wavers on March Sales Data
- Hot Topic Shares Slip on Lower Sales
- Hot Topic Sales Surprise Wall Street
- Hot Topic's Loss Widens