×
78 018
Fashion Jobs
ATHLETA
Assistant Manager - The District
Permanent · Henderson
ATHLETA
General Manager - Old Orchard
Permanent · Skokie
SAKS OFF 5TH
Supply Chain Analyst
Permanent · WILKES-BARRE
SAKS
sr Cyber Security Operation Center (Csoc) Analyst
Permanent · NEW YORK
SAKS
Overnight Shift Operations Manager
Permanent · LA VERGNE
MACY'S
Asset Protection Security Guard, Kings Plaza - Full Time
Permanent · New York
MACY'S
sr. Manager, Price Strategy
Permanent · New York
MACY'S
Asset Protection Security Guard, Herald Square - Full Time
Permanent · New York
MACY'S
Asset Protection Detective, Bellingham Bellis Fair - Full Time
Permanent · Bellingham
MACY'S
Asset Protection Detective, Woodbridge Center - Full Time
Permanent · Woodbridge Township
MACY'S
Asset Protection Detective, Staten Island - Full Time
Permanent · New York
MACY'S
Asset Protection Detective, Security Square - Flex
Permanent · Baltimore
MACY'S
Asset Protection Detective, Streets of South Point - Full Time
Permanent · Durham
MACY'S
Asset Protection Detective, Queens Center - Full Time
Permanent · New York
MACY'S
Asset Protection Security Guard, Topanga - Standard Part Time
Permanent · Los Angeles
MACY'S
Asset Protection Detective, State Street - Full Time
Permanent · Chicago
MACY'S
Asset Protection Detective, University Town Center - Full Time
Permanent · Sarasota
MACY'S
Asset Protection Detective, Walt Whitman - Full Time
Permanent · Huntington Station
MACY'S
Manager, Merchandise Execution
Permanent · Las Vegas
MACY'S
Manager, Asset Protection
Permanent · Columbia
MACY'S
Asset Protection Detective, Aventura - Full Time
Permanent · Aventura
ABERCROMBIE AND FITCH CO.
Asset Protection Agent
Permanent · San Francisco
By
Reuters
Published
Aug 20, 2008
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Hot Topic Q2 loss narrows; shares fall on weak outlook

By
Reuters
Published
Aug 20, 2008

Aug 20 (Reuters) - Hot Topic Inc, a teen-clothing retailer, posted a narrower-than-expected loss for the second quarter, helped mainly by strong sales at its Torrid stores, and forecast weaker-than-estimated earnings for the rest of the year, sending its shares down more than 6 percent.


The company, which sells rock n' roll-inspired apparel and accessories as well as music, expects third-quarter earnings of 12 cents to 15 cents per share and fourth-quarter earnings of 25 cents to 28 cents per share.

The forecast includes expenses of about 2 cents and 1 cent per share for the third and fourth quarter respectively, related to the launch of the company's online music initiative, it said in a statement.

Excluding items, analysts on average were expecting the company to earn 16 cents per share for the third quarter and 27 cents a share for the fourth quarter, according to Reuters Estimates.

For the second quarter ended Aug. 2, Hot Topic reported a loss of $0.4 million, or 1 cent a share, compared with $1.7 million, or 4 cents a share, a year earlier.

The results include a 1 cent per share charge in expenses related to the company's online music initiative.

Analysts on average had expected the mall-based retailer to post a loss of 2 cents a share, before special items, on revenue of $166.2 million.

Total sales rose about 3 percent to $166.8 million.

Sales at the company's Torrid stores, a plus-size chain for young women, rose 16 percent to $39.6 million, while sales at its Hot Topic stores fell marginally to $127.2 million.

Hot Topic, whose rivals include Abercrombie & Fitch , American Eagle Outfitters Inc and Wet Seal , said sales at its stores open at least a year fell 0.9 percent for the quarter.

Shares of the California-based company fell 42 cents to $6.45 in after-hours trading. They closed at $6.87 in regular trading Wednesday on Nasdaq. (Reporting by Divya Nair in Bangalore; Editing by Gopakumar Warrier)

© Thomson Reuters 2022 All rights reserved.