US: Hot Topic narrows second-quarter loss forecast
Hot Topic has lowered its second-quarter loss per share guidance as it said it made "solid gains in licensing"
The company lowered its loss per share guidance to US$0.02-0.03 from previous guidance of $0.04-0.06 per share.
The annoucement came as the company recorded a 5.5% second quarter sales increase to reach $329.4m on the back of a 5.5% comparable sales rise.
"We are pleased with our progress in the fashion apparel category and we continue to make solid gains in licensing at Hot Topic," said chairman and CEO Lisa Harper.
"At Torrid we are delighted to report that our new Torrid locations in strip centers are exceeding our internal expectations and that our strategy of moving to a vertical sourcing model has positioned us for strong margin gains. In addition we feel strongly that we ended the second quarter with the right merchandise assortment and that our inventory levels are on plan as we enter the back half of 2012."
Hot Topic chief financial officer Jim McGinty is to step down from the apparel and accessories retailer....
US teen apparel retailer Hot Topic today (3 January) revealed that it expects 2013 earnings to rise 30-35% over fiscal 2012 as it works to open new stores....
Teen apparel retailer Hot Topic has booked a 38% rise in third-quarter net profit on the back of higher sales of new fashion-forward merchandise....
Teen apparel retailer Hot Topic is testing the lingerie market with the launch of five mall-based stores ahead of the holiday season under the Blackheart banner....
- 2014: Year in review - Sourcing winners and losers
- 2014: Year in review - Brand winners and losers
- Bangladesh: Raising the bar on apparel exports?
- 2014: Year in review - Retail winners and losers
- Bangladesh: The business benefits of compliance
- Report urges overhaul of Cambodia factory safety
- Bangladesh factory improvements “will take years”
- Bangladesh knitting worker killed by faulty lift
- North Face debuts locally-grown "backyard" hoodie
- Tommy Hilfiger launches solar-powered jacket