Hot Topic Inc. reported adjusted first-quarter net income that was slightly better than analysts expected. The teen retailer continued to trim operations and slightly shift its inventory mix away from goth and punk styles in the face of lackluster same-store sales over the last few years.

After the markets closed Wednesday, the City of Industry company reported a net loss of $7.7 million (-17 cents a share) for the quarter ended April 30, compared with a loss of $1.8 million (4 cents) a year earlier. Sales fell 0.8 percent to $161 million, with sales at stores open for at least a year up 0.2 percent.

Adjusted for one-time items, the company had net income was $57,000 or breakeven per share. Analysts polled by Thomson Reuters on average expected a per-share loss of 1 cent on revenue of less than $161 million

The quarter included $12.4 million in expenses related to previously announced strategic business changes and cost reduction plan, which included the closure of its struggling music website ShockHound.com. The company planned to close as many as 50 stores, about 6 percent of its total store base.

April same-store sales rose a better-than-expected 10.5 percent. For the current quarter, Hot Topic expects second-quarter loss in the range of 9 to 11 cents per share, excluding nearly $3 million of expected additional restructuring costs. The Wall Street consensus is for a 10 cent per-share loss.

The company announced its cost-cutting plans last year, saying it will close 40-50 stores — about 5-6 percent of its total store base — by the end of the first quarter.

Shares on Thursday closed down 41 cents, or more than 5 percent, to $7.25 on the Nasdaq.