×
By
Reuters
Published
Jul 9, 2009
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Hot Topic June comp sales fall; widens second quarter loss view

By
Reuters
Published
Jul 9, 2009

July 8 (Reuters) - Hot Topic Inc (HOTT.O) widened its second-quarter loss forecast citing lower-than-expected sales performance till date, and posted a 7.9 percent fall in June sales at stores open at least a year, sending its shares down 5 percent. Analysts had expected comparable-store sales to fall 6.4 percent, according to Thomson Reuters Estimates.

Hot Topic
Hot Topic

The mall and web-based retailer sees comparable-store sales falling in the high-single-digit range in the second quarter. It earlier projected comparable sales decline in the mid-single-digit percentage range.

For the second quarter ending August 1, Hot Topic, which also sells music and often hosts live bands at its stores, expects to lose 7 cents a share to 9 cents a share. It earlier expected to lose 4 cents a share to 6 cents a share.

The retailer posted sales of $59.5 million in June.

The company's shares were down 31 cents in trading after the bell. They closed at $7.06 Wednesday 8 July on Nasdaq. (Reporting by Mihir Dalal in Bangalore; Editing by Unnikrishnan Nair)

© Thomson Reuters 2021 All rights reserved.