US: Hot Topic to close ShockHound business
Mall-based specialty retailer Hot Topic has announced plans to discontinue its ShockHound.com music merchandise store as part of a wider restructuring.
Announcing plans for a business revamp this week, Hot Topic also said its was to write down unproductive inventory and "fixed assets that are no longer critical to the strategic direction of the company".
The company estimated that the changes, along with severance costs related to recent changes in management, will result in a total pre-tax charge of approximately $15m in the first quarter.
A statement said Amy Kocourek, the company's chief merchandising officer, was leaving the company effective 28 March. Following Kocourek's departure, CEO Lisa Harper will assume direct oversight for Hot Topic merchandising.
The following is a general roundup of US apparel and shoe chains' July 2011 sales results....
The following is a general roundup of US apparel and shoe chains' June 2011 sales results. The list will be updated as new results become available....
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