US: Hot Topic second-quarter losses narrow
Hot Topic saw its losses narrow over the second quarter on the back of rising sales.
The US clothing company, which operates under the Hot Topic and Torrid concepts, said yesterday that net losses narrowed to US$800,000 over the second quarter, against a $6.2m net loss in the same period of the prior year.
Sales increased 4.6% to $1.57m, as comparable store sales rose 3.9%.
"This was a strong quarter, with improved merchandising, markdown optimization, and other productivity initiatives showing great results at Hot Topic and Torrid," said chairman and CEO Lisa Harper.
"We're also pleased with the progress at Torrid, where we've rolled out a comprehensive, well-differentiated rebrand over the last couple of weeks. We believe our sexy, fashion-forward point of view will help drive continued improvement for the brand and the company overall."
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....
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