Blue Holdings Inc. said Wednesday that it appointed Eric Hohl as the City of Commerce-based denim company's chief financial officer, effective May 5. Hohl succeeds Larry Jacobs, who resigned from his position to pursue other opportunities, the company said. Hohl has more than 16 years of financial and management experience. Hohl, 46, holds an M.B.A. from the University of Southern California and a B.A. from University of California, Davis. Shares in Blue Holdings were flat at 61 cents per share in early trading Wednesday.
UTi Worldwide Inc. said it will pay its chief executive officer only in stock options for the remaining nine months of its fiscal year. UTi said it will pay Roger MacFarlane and Vice Chairman Matthys Wessels solely in options through Jan. 31. The pair will forego base salaries, bonuses and non-options equity-based awards, the Long Beach-based logistics company said in a regulatory filing Wednesday. No reason was given for the change in the compensation. Shares in UTi closed down 3.4 percent to $22.01 Wednesday.
Internet Brands Inc. reported first quarter net income of $3 million (7 cents per share), up from $1.4 million (7 cents) from the same period a year earlier. Revenues for the El Segundo-based Internet and media company jumped 30 percent to $24.9 million on an 80 percent increase in licensing revenues and a 14 percent jump in consumer Internet revenues, the company said. The company reiterated its full year guidance of revenues of between $100 million and $110 million. Shares in Internet Brands closed down 4 percent to $6.29 in trading Wednesday.
Hot Topic Inc. said Wednesday that same-store sales fell 2.5 percent in April. However, Hot Topic reported that sales rose 1.4 percent for the four weeks ended May 3 to $44.8 million. The City of Industry-based retailer also said it now expects a first-quarter loss of 3 cents to 4 cents, versus earlier guidance of a loss of 3 cents to 6 cents per share. Shares in Hot Topic closed up 1.9 percent to $4.93 Wednesday.
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