(Filed Under Financial and General Interest News). After steady increases in sales since October 2008 and a promising third quarter, Hot Topic Inc. reported revenue increases from last year’s fourth quarter and full-year results ended January 31, 2009.
The teen retailer reported total sales for their fourth quarter of $238.0 million compared with $220.7 million for last year’s fourth quarter, a 7.8 percent increase. During the quarter, the company’s net income totaled at $14.2 million, or 32 cents per diluted share, compared to $11.9 million, or 27 cents per diluted share, during last year’s period. Total company comparable store sales increased 5.2 percent. The company’s plus size chain Torrid’s comparable store sales decreased by 2.7 percent, compared with a 0.4 percent drop last year. Comparable store sales at their Hot Topic chain experienced a 6.5 percent increase compared with a 7.2 percent decline last year. Results included expenses from the company’s music site, shockhound.com, of approximately three cents per share.
For the full fiscal year of 2008 ended January 31, 2009, total sales increased 4.5 percent to $761.1 million compared to $728.1 million during the previous year. Comparable store sales increased one percent.
For the first quarter of 2009, the company issued guidance in the range of a net loss of one cent to net earnings of one cent per diluted share based on a comparable store sales increase in the mid-single digit percentage range.
There have been reports that several analysts have attributed much of the company’s success during the previous two quarters to their license for the teen-hit “Twilight.”
Hot Topic Inc. is a based in the City of Industry, California. At the end of the quarter, the company operated 681 Hot Topic stores and 159 Torrid stores compared to 690 Hot Topic stores and 151 Torrid stores at the end of last year’s fourth quarter.see more
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