US: Hot Topic Q2 loss fractionally down
- Q2 net loss US$6.2m, down from $6.3m
- Sales up 0.7% to $150.9m
- Comparable store sales rise 2.6%
Retailer Hot Topic posted a slightly reduced second-quarter net loss thanks to a marginal increase in sales and a 2.6% rise in comparable-store sales.
The US company, owner of the Hot Topic and Torrid retail brands, is now projecting full-year earnings per diluted share of $0.17-0.23 after the performance in the three months to 30 July.
Hot Topic also said that, in the year to February 2013, it expected to open 25-45 new Torrid stores, closing 10-20 Hot Topic outlets and five Torrid shops.
While some retailers continued to be vulnerable to cost-cutting, swingeing redundancies and store closures in 2011, others acted swiftly to respond to the changing economic circumstances, offering rea...
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