USA: May Comp Store Sales Increase 19.7%
Total May Sales Increase By 54% to $14.3 Million Hot Topic, Inc.(Nasdaq:HOTT) a mall-based specialty retailer of music-licensed and music-influenced apparel, accessories and gift items for teens, announced today its net sales for fiscal May 2000 (four weeks ended May 27, 2000) increased 54% to $14,333,000 from net sales of $9,287,000 for fiscal May 1999. Same store sales increased by 19.7% compared to May 1999. Last year, May same store sales increased by 24.3%. Eight new stores were opened during fiscal May 2000. Total sales for the first 17 weeks of fiscal 2000, ended May 27, 2000, were $59,061,000, an increase of 59% over sales of $37,573,000 for the same period of fiscal 1999. Same store sales increased 22.8% for the first 17 weeks of fiscal 2000 compared to the first 17 weeks of fiscal 1999. Betsy McLaughlin, President, said, "We are very pleased with the May comparable sales performance, especially given our strong comp performance last year. As we move into the summer months, the sales momentum continues with all major product categories performing above plan." Orv Madden, Chief Executive Officer, added, "In May, we opened 8 new stores, bringing the year-to-date openings to 20 of the 60 new stores we are planning for fiscal 2000. We opened our first new store in Montana. Sales continue to be above plan in the new stores opened in fiscal 2000." Hot Topic, Inc. is a mall-based specialty retailer of music-licensed and music-influenced apparel, accessories and gift items for young men and women principally between the ages of 12 and 22. The Company currently operates 232 stores in 44 states throughout the United States and an Internet store
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