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....
- Improved supplier capabilities benefit Next
- India's labour law reforms edge a step closer
- THE FLANARANT: Understand win-win or lose out
- China and Vietnam lead US apparel imports in July
- Retailers voice concerns on Scottish independence
- H&M goes green with Conscious Denim
- Under Armour "resonating strongly" with consumers
- TPP talks "make progress" but issues remain
- Adidas defends position despite investor unrest
- Ultrasonic execs disappear along with company cash
- Apparel Market in China to 2018 - Market Size, Trends, and Forecasts
- Wool in the 21st Century: new prospects for a familiar fibre
- Global market review of denim and jeanswear – forecasts to 2020
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Global Database of the Top 1000 Cut and Sew Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details