Apparel retailer Hot Topic's loss narrows
(Reuters) - Teen apparel retailer Hot Topic Inc's HOTT.O quarterly loss narrowed as improved merchandise drove sales.
The mall-and-web-based retailer has been cutting costs and overhauling its stores and merchandise to appeal to older teens.
Second-quarter loss narrowed to $0.8 million, or 2 cents per share, from $6.2 million, or 14 cents per share, a year earlier.
Analysts on average had expected a loss of 2 cents per share, according to Thomson Reuters I/B/E/S.
Revenue at the company, which sells music and movie-related merchandise, rose 5 percent to $157.8 million, slightly below Wall Street's average estimate of $159.3 million.
Hot Topic, which runs 620 stores under its namesake banner as well as 171 Torrid stores, said comparable sales rose 4 percent during the quarter.
The City of Industry, California-based company's shares, which have risen about 49 percent this year, were up 1 percent after the bell. They closed at $9.70 on the Nasdaq on Wednesday.
(Reporting by Chris Jonathan Peters and Ranjita Ganesan in Bangalore; Editing by Supriya Kurane)
- Special Report: Thailand secretly supplies Myanmar refugees to trafficking rings |
- UPDATE 2-China bars banks from bitcoin transactions
- The 10 Most Corrupt and Least Corrupt Countries in the World
- Obama says he's not allowed iPhone for 'security reasons'
- China central bank warns banks against use of bitcoin