Hot Topic (HOTT) Guides Lower; Comps Down 7.9%
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Hot Topic, Inc. (Nasdaq: HOTT) said June Comparable Store Sales fell 7.9%. Net sales fell 5.8% to $59.5 milion in June.
The company announced that as a result of the lower than expected sales performance quarter-to-date, it now estimates a net loss for the second quarter of 2009 (ending August 1, 2009) in the range of $0.07 to $0.09 per share. The revised guidance reflects a comparable store sales decline in the high-single-digit range for the quarter. The consensus is a loss of $0.05.
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