Hot Topic Sept. Sales Comparison Beats Estimate

CITY of INDUSTRY, Calif. (AP) — Teen apparel retailer Hot Topic Inc. said Thursday that sales in stores open at least one year fell 4 percent in September, better than analysts expected.

Analysts surveyed by Thomson Reuters, on average, expected sales in stores open at least one year to fall 6.3 percent.

Shares reacted positively to the news in aftermarket trading, rising 65 cents, or 8.4 percent, to $8.31 after closing at $7.70.

Sales in established stores rose 4 percent at the company's Torrid chain but fell 6 percent at namesake stores.

Sales at stores open at least a year are a key measure of retailer performance, because they measure growth at existing stores rather than from newly opened ones.

Total sales during the five weeks ended Oct. 3 fell 5 percent to $45.1 million.

Year-to-date, sales in stores open at least one year fell 1.6 percent, while total sales edged down less than 1 percent to $353.6 million.