First-quarter earnings edged lower at
as overhead expenses rose a little faster than sales.
The goth outfitter earned $5.0 million, or 11 cents a share, in the quarter, compared with $5.3 million, or 11 cents a share, last year. Sales rose 17% from a year ago to $149.8 million, while cost of goods rose 17% to $98.6 million and overhead costs rose 21% to $43.4 million.
Analysts were forecasting earnings of 11 cents a share on sales of $151.1 million in the quarter.
Hot Topic is among a handful of highflying teen retailers that have come up against tough same-store sales comparisons this spring. Two weeks ago, the company said April comps rose just 0.9% last month, after jumping 4% in April of 2004.
The stock is up 25% in 2005, closing Wednesday at $20.50.