88 577
Fashion Jobs
TREK
Service Manager
Permanent · LINCOLN
TREK
Service Manager
Permanent · MERIDIAN CHARTER TOWNSHIP
BLACK DIAMOND
Quality Engineer
Permanent · SALT LAKE CITY
LULULEMON
Community Specialist | Fort Worth Tanger Outlet
Permanent · FORT WORTH
LULULEMON
Expeditor | Branson Tanger Outlets
Permanent · BRANSON
LULULEMON
Community Specialist | Auburn Popup
Permanent · AUBURN
LULULEMON
Community Specialist | Aspen Place Local
Permanent · FLAGSTAFF
LULULEMON
Community Specialist | Kingston Pike
Permanent · KNOXVILLE
LULULEMON
Community Specialist | The Domain
Permanent · AUSTIN
LULULEMON
Community Specialist | First Street Napa
Permanent · NAPA
LULULEMON
Expeditor Factory Outlet| Orlando Vineland Premium Outlet
Permanent · ORLANDO
LULULEMON
Visual Merchandising Specialist | Contract | Houston Premium Outlet
Permanent · CYPRESS
PAUL SMITH
Stock Support - Woodbury Commons
Permanent · WOODBURY
TUMI
Human Resource Business Partner, Mansfield
Permanent · MANSFIELD
HENKEL
3rd Shift Production Manager
Permanent · WEST HAZLETON
HENKEL
Packaging Engineer
Permanent · STAMFORD
THE REALREAL
Field Sales Account Manager (Account Luxury Manager)
Permanent · SAN FRANCISCO
THE REALREAL
Field Sales Account Executive (Single Market Luxury Manager)
Permanent · PRINCETON
THE REALREAL
Senior Manager, Acquisition Marketing - Remote Usa(Eligible States)
Permanent · SAN FRANCISCO
THE REALREAL
Acquisition Marketing Coordinator - Remote Usa(Eligible States)
Permanent · SAN FRANCISCO
J. JILL
Manager, Treasury Operations
Permanent · TILTON
SHIMANO
Shipping Lead
Permanent · LADSON
By
Reuters
Published
May 5, 2011
Reading time
2 minutes
Download
Download the article
Print
Text size

Hot Topic April sales show turnaround

By
Reuters
Published
May 5, 2011

May 4 - Hot Topic Inc and Zumiez Inc posted April same store sales that bettered market expectations, helped by a boost from a late Easter this year and, for Hot Topic, a turnaround at its stores.

Hot Topic
Swimwear at Hot Topic

Sales at stores open for at least a year, or same-store sales, at Hot Topic turned positive and rose 10.5 percent. This surpassed analysts' average estimate of a rise of 3.4 percent, according to Thomson Reuters I/B/E/S.

The company, which has been struggling to get back on the teenage shopping list, has been closing underperforming stores and revamping others under new Chief Executive Lisa Harper, who took charge in March.

The company also raised its estimates for the first quarter.

"Of course there was some benefit from Easter, but Hot Topic is a singular story," Wall Street Strategies analyst Brian Sozzi said.

"They are offering differentiated merchandise. You see more local band and music themes applied to their T-shirts, which sets them apart from other teen retailers. Where there is strength in apparel, I think accessory sales will follow," he added.

This year, Easter was on April 24, compared with April 4 last year. So, more people shopped later in the month, boosting sales.

For Zumiez, which has been consistently outperforming peers, same store sales rose 17.5 percent against a market expectation of a 14 percent rise.

But analyst Sozzi said Zumiez's beat was more a reflection of broader market trends.

"I'm not sure the beat is enough. I think the market wanted more from them," he said.

Analysts expect April numbers to be strong across the board, despite rising gasoline prices that threaten to eat into shoppers' budgets.

Same-store sales are forecast to rise 8.2 percent, compared with a rise of 0.7 percent last year, according to Thomson Reuters data.

Hot Topic shares closed at $6.52 on Wednesday on Nasdaq, while Zumiez shares closed at $28.55 on the same exchange.

(Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Joyjeet Das)

© Thomson Reuters 2024 All rights reserved.