Hot Topic Widens Loss

Hot Topic doubles its loss in the second quarter.
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NEW YORK (

TheStreet

) --

Hot Topic

(HOTT)

doubled its loss in the second quarter, slightly missing estimates.

During the quarter, the teen retailer lost $6.3 million, or 14 cents a share, compared with a loss of $3.2 million, or 7 cents, in the year-ago period.

Hot Topic's sales dropped 5% to $150 million from $157.8 million, while same-store sales sank 6.4%.

Analysts were looking for a loss of 13 cents for Hot Topic on revenue of $150.4 million.

Looking ahead, Hot Topic expects third-quarter earnings in the range of 5 cents to 8 cents a share, significantly below Wall Street's forecast of 11 cents a share.

-- Reported by Jeanine Poggi in New York.

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