Teen retailer Hot Topic Inc has parachuted in board member Lisa Harper as its new chief executive, replacing Betsy McLaughlin who has resigned after more than a decade at the helm.

McLaughlin will continue to assist in transition matters for the next three months the company said.

The change comes after the retailer, which operates 804 Hot Topic and Torrid stores, hired a consulting and financial advisory firm to review its business and operations. And earlier this month the company said it swung to a full-year loss of $8.2m, as same-store sales fell 2.1%.