USA: Hot Topic Posts 2.2 Per Cent Fall In Same-Store Sales
Specialty retailer of music-licensed and music-influenced apparel, Hot Topic Inc, on Wednesday said its same-store sales fell 2.2 per cent last month from 2001 due to "disappointing" business in men's clothes.
The California-based operator of 415 stores said total sales climbed 26 per cent last month to $32.8 million from $26.1m in the year-ago period. It added net sales for the second quarter jumped 29 per cent to $92.4m from $71.9m last year.
Betsy McLaughlin, president and CEO, commented: "As we previously announced, July sales were below our previous expectations, principally the result of disappointing business in men's tops and men's bottoms."
Companies: Hot Topic Inc
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