Capitalizing on its tie-in with a teen-oriented movie, Hot Topic Inc. went against the grain of specialty store competitors Wednesday with higher third-quarter sales and earnings. The company beat analysts’ expectations and maintained fourth-quarter guidance.
For the quarter ended Nov. 1, the City of Industry, Calif.-based company reported an 11.4 percent increase in profits, to $7.4 million, or 17 cents a share, from $6.7 million, or 15 cents a share, for the year-ago period. Net sales grew 4.7 percent to $197.3 million from $188.5 million. Analysts surveyed by Yahoo Finance were expecting EPS of 16 cents on sales of $195.8 million.
Gross margin improved to 37.6...
Hot Topic Logs Strong Third Quarter
Hot Topic Logs Strong Third Quarter
by
Posted Thursday November 20, 2008
From WWD Issue 11/20/2008
Read the full article by SUBSCRIBING today!
Subscribe today to WWD.com, now incorporating comprehensive menswear and footwear coverage with the new WWDMen's and Footwear News channels, for complete access to breaking news and events that shape the worldwide men's and women's fashion, footwear, retail and beauty industries.
Subscription includes:
- Immediate access to breaking news 24/7.
- Search, comment on, clip and save articles and images.
- Daily downloadable PDF of WWD Daily Newspaper for worldwide access.
- Access every article from the past 12 month's issues.
- Access daily newsletters and weekly digests online.
- Read it anytime, anywhere.
- Start your subscription now for only 27 cents per day!
