USA: Scorching Sales Boost Hot Topic Q1 Profit
Specialty retailer of music-licensed and music-influenced apparel, Hot Topic Inc, on Thursday posted a rise in first quarter net income to $4.4 million from $3.7m in the year prior on the back of soaring sales. The California-based operator of 468 stores said net sales for the quarter ended May 3 rose 26 per cent to$100.7m from $79.9m. It added same-store sales increased 2.6 per cent.
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