Hot Topic's profit swells in Q3, but sales fall
City of Industry, Calif. -- Hot Topic Inc. reported Wednesday that profit rose to $3.1 million in the quarter ended Oct. 29, compared with $400,000 in the year-ago period. Prior-year results were weighed down by charges from its ShockHound website, which folded.
Revenue fell 4% to $175.8 million from $183.2 million in the quarter, missing Wall Street’s expected $177.8 million in revenue.
Same-store sales dipped 1.6% at Hot Topic and Torrid stores, attributed to disappointing Halloween sales.