Hot Topic Widens Loss
Hot Topic doubles its loss in the second quarter.
NEW YORK (
) --
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.
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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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