Speciality retailer Hot Topic registered a healthy 33.7% rise in fourth quarter net income, up to US$11.9m from $8.9m last year despite falling revenues.

Sales for the three months ended February 2 fell 8% to $220.7m, accompanied by a 6.3% decline in comparable store sales.

That left the mall-based retailer with full-year net income of $16m, up from $13.6m the previous year, despite a 4.4% decline in comparable store sales. Net sales fell 3% to $728.1m.