Content about Hot Topic

March 7, 2013
Sycamore Partners to acquire Hot Topic for $600 million

Hot Topic announced it has agreed to be acquired by New York-based private equity firm Sycamore Partners for $14.00 per share in cash, or a total of approximately $600 million.

City of Industry, Calif. -- Hot Topic announced it has agreed to be acquired by New York-based private equity firm Sycamore Partners for $14.00 per share in cash, or a total of approximately $600 million.

The agreement, unanimously approved by Hot Topic’s board of directors, represents a premium of approximately 30% over Hot Topic’s closing stock price on March 6, 2013.

January 22, 2013
Hot Topic CFO to resign

Hot Topic announced that its chief financial officer, Jim McGinty, has resigned, effective March 29.

City of Industry, Calif. -- Hot Topic announced that its chief financial officer, Jim McGinty, has resigned, effective March 29. The company said that George Wehlitz, VP finance will serve as interim CFO.

McGinty had worked for Hot Topic Inc. for the past 12 years. His resignation is effective March 29.

Wehlitz became VP finance at Hot Topic in 2008. He previously served as CFO at motorcycle clothing and accessories company Cycle Gear Inc.

November 1, 2012
Hot Topic announces test of new retail concept

On the heels of its report that the company gained just 0.2% in October same-store sales, Hot Topic Inc. also announced plans to test a new store that will specialize in dark, edgy lingerie.

City of Industry, Calif. -- On the heels of its Wednesday report that the company gained just 0.2% in October same-store sales, Hot Topic Inc. also announced plans to test a new store that will specialize in dark, edgy lingerie.

Called Blackheart, the concept will target the company’s core teen customer and will debut with five stores in southern California and Texas malls as well as online offerings beginning in mid-November.

 

September 7, 2012
Hot Topic on hunt for new chief store officer

Hot Topic announced that Jerry Cook has resigned as chief store officer, effective February 28, 2013.

City of Industry, Calif. -- Hot Topic announced that Jerry Cook has resigned as chief store officer, effective February 28, 2013. He is leaving the company to relocate his family to Texas, and will pursue other professional opportunities.

March 8, 2012
Hot Topic reports Q4 profit on cost-cuts

Hot Topic Inc. earned $9 million in the three months that ended Jan. 28, compared with a loss of $578,000 in the year-ago period, on reduced spending.

City of Industry, Calif. -- Hot Topic Inc. earned $9 million in the three months that ended Jan. 28, compared with a loss of $578,000 in the year-ago period, on reduced spending.

Revenue in the fourth quarter slipped 1% to $209.9 million, from $212.4 million. Same-store sales increased 1.3%.

January 4, 2012
Hot Topic holiday same-store sales up 1.2%

Hot Topic reported that same-store sales for the nine-week holiday shopping period of November and December edged up 1.2%.

City of Industry, Calif. -- Hot Topic reported Wednesday that same-store sales for the nine-week holiday shopping period of November and December edged up 1.2%. The company upped its fourth quarter guidance based on the results.

In related news, Hot Topic has named Cindy Levitt as VP, general merchandise manager, effective Jan. 16.

November 17, 2011
Hot Topic's profit swells in Q3, but sales fall

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.

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.
 

November 7, 2011
Hot Topic names CEO as chairwoman

Hot Topic Inc. said that its CEO, Lisa Harper, 52, has also been named its board chairwoman.

City of Industry, Calif. -- Hot Topic Inc. said that its CEO, Lisa Harper, 52, has also been named its board chairwoman.

Former chairman Bruce Quinnell will stay on as chairman of the audit committee, but he will not seek re-election to the board when his term ends in June, the company said.

The company also said Matthew Drapkin was named lead director.
 

October 6, 2011
Hot Topic names former Gymboree exec to lead supply chain

Hot Topic said Wednesday that Mark Mizicko has joined the company as its senior VP planning and allocation.

City of Industry, Calif. -- Hot Topic said Wednesday that Mark Mizicko has joined the company as its senior VP planning and allocation.

Mizicko will lead the merchandise planning and allocation teams for both the Hot Topic and Torrid brands. He most recently served as VP marketing and logistics for Gymboree.
 

August 18, 2011
Hot Topic narrows loss in Q2, on track to open up to 40 net new Torrid stores

Hot Topic reported Wednesday that it tightened its loss in the second quarter to $6.2 million, compared with a loss of $6.3 million a year earlier.

City of Industry, Calif. -- Hot Topic reported Wednesday that it tightened its loss in the second quarter to $6.2 million, compared with a loss of $6.3 million a year earlier.

Revenue edged up to $150.9 million from $150 million. Same-store sales rose 2.6% for quarter.

Hot Topic said it will open 25 to 45 Torrid stores in fiscal 2012. It also plans to close 10 to 20 Hot Topic stores and about five Torrid stores next year, and remodel or relocate 40 to 50 Hot Topic stores and 10 to 20 Torrid stores.
 

August 4, 2011
Apparel retailers have mixed results in July

The nation’s specialty apparel retailers reported mixed results in July. as Hot Topic and Limited Brands turned in strong performances, while Gap and Aeropostale stumbled.

New York City -- The nation’s specialty apparel retailers reported mixed results in July. as Hot Topic and Limited Brands turned in strong performances, while Gap and Aeropostale stumbled.

Hot Topic said its same-store sales rose 7.3% in July. far exceeding the 0.5% rise in analysts’ forecast. Hot Topic said the measure rose 6.2% at its namesake stores and rose 11.8% at its plus-sized Torrid division. The teen retailer also raised its second-quarter outlook.

March 22, 2011
CEO shake-up at Hot Topic

Hot Topic announced Monday that CEO Betsy McLaughlin has resigned the company, effectively immediately, and will be replaced by current board member Lisa Harper.

City of Industry, Calif. -- Hot Topic announced Monday that CEO Betsy McLaughlin has resigned the company, effectively immediately, and will be replaced by current board member Lisa Harper.

The move came two weeks after the company announced a fourth-quarter net loss, reversing a profit from a year ago, as revenue slipped by 1%.

According to the retailer, McLaughlin will continue to assist in the transition over the next three months.

February 1, 2011
Hot Topic divisional chief resigns

Hot Topic said Monday that Chris Daniel, president of the company’s plus-size Torrid division, has resigned effective April 29.

City of Industry, Calif. -- Hot Topic said Monday that Chris Daniel, president of the company’s plus-size Torrid division, has resigned effective April 29.

The company has named Betsy McLaughlin as interim head of Torrid upon Daniel’s departure, and said it will conduct an outside search for a permanent replacement.

October 5, 2010
Hot Topic September sales fall 2.6%

Hot Topic said late Wednesday that September same-store sales declined 2.6%....

August 18, 2010
Hot Topic loss widens in Q2

Fashion retailer Hot Topic said late Wednesday that its second-quarter loss nearly doubled from a...

June 1, 2010
Hot Topic same-store sales fall 9.0% in May

Hot Topic on Wednesday reported that its same-store sales dropped 9.0% in the four-week period...

May 19, 2010
Hot Topic posts loss

Hot Topic posted a net loss for its fiscal first quarter as revenue declined....

January 5, 2010
Hot Topic same-store sales down 10.9%

Hot Topic said late Wednesday that its December same-store sales fell 10.9%....

October 6, 2009
Hot Topic same-store sales fall in Sept.

Hot Topic said Wednesday that its September same-store sales declined 4%....

January 6, 2009
Same-Store Sales Up at Hot Topic, Down at Zumiez

Hot Topic reported on Wednesday that its December same-store sales rose 4.3%, compared to a...

December 2, 2008
Hot Topic Reports Same-Store Sales Up 6.5% in Nov.

Hot Topic, Inc. reported on Wednesday that its same-store sales rose 6.5% in November....

November 18, 2008
Hot Topic Sales Up 4.7% in 3Q

Hot Topic, Inc. reported net income in the third quarter of $7.4 million compared to...

October 29, 2008
Hot Topic Launches Online Music Site

Hot Topic announced Wednesday that it has launched ShockHound, an online music site offering millions...

October 29, 2008
Hot Topic Launches Online Music Site

Hot Topic announced Wednesday that it has launched ShockHound, an online music site offering millions...

July 30, 2008
Hot Topic CMO Resigns

Hot Topic, Inc. has announced that Maria Comfort, formerly the chief merchandising officer of the...