Hot Topic 1Q Loss Widens on Same-Store Sales Drop
City of Industry, Calif. Hot Topic Inc. said Wednesday its first-quarter loss widened on a drop in same-store sales.
For the quarter ended May 3, Hot Topic posted a loss of $1.4 million, compared with a loss of $809,000 in the year-ago period.
Sales rose 1.1% to $159 million from $157.3 million in the year-ago period.
Total same-store sales fell 2.8% in the quarter. The same-store-sales drop was comprised of a 3% decrease in same-store sales at Hot Topic brand stores and a 2% drop at Torrid brand stores.