Hot Topic (HOTT) Comps Down 10.9% in December 2009; Reduces Guidance
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Hot Topic, Inc. (Nasdaq: HOTT) today announced the sales results for its fiscal month of December (five weeks ended January 2, 2010).
Total sales in December were $119 million, a change of (9.8%) year-over-year. Comps were down 10.9% over the same period. Year to date sees net sales of $696.8 million, down 2.7% Y/Y. Comps were down 4.6% YTD.
The company announced that as a result of the lower than expected quarter-to-date sales performance, it now estimates earnings per diluted share for the fourth quarter of 2009 (ending January 30, 2010) in the range of $0.18 to $0.20. The revised guidance reflects a comparable store sales decline in the range of 10% to 12%. Previous guidance was $0.23 to $0.26 per diluted share based upon a high-single-digit comp decline.
Total sales in December were $119 million, a change of (9.8%) year-over-year. Comps were down 10.9% over the same period. Year to date sees net sales of $696.8 million, down 2.7% Y/Y. Comps were down 4.6% YTD.
The company announced that as a result of the lower than expected quarter-to-date sales performance, it now estimates earnings per diluted share for the fourth quarter of 2009 (ending January 30, 2010) in the range of $0.18 to $0.20. The revised guidance reflects a comparable store sales decline in the range of 10% to 12%. Previous guidance was $0.23 to $0.26 per diluted share based upon a high-single-digit comp decline.
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