US: “Sexy” strategy returns Hot Topic to Q1 profit
- Q1 net profit US$3.8m, versus $7.7m loss
- Sales up 6.4% to $171.5m
- Comparable store sales up 7.5%
Popular culture-focused retailer Hot Topic returned to profit in its first quarter as sales moved up thanks to a return to its “edgy, dark and sexy core”, the company said.
The US company, which operates 624 Hot Topic stores and 164 Torrid stores, recorded a 7.5% increase in comparable store sales in the three months to 28 April.
“Our first quarter sales and earnings increases at both the Hot Topic and Torrid brands exceeded our early expectations,” said Lisa Harper, Hot Topic chairman and CEO.
“The quarterly results demonstrate the success of our key strategies of returning the Hot Topic brand to its edgy, dark and sexy core, as well as bringing true fashion to the Torrid brand.”
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