Hot Topic

Fairfax, Va. – Geeknet Inc. has determined that an acquisition offer from an unnamed strategic bidder of $20 per share, or about $134.6 million, is superior to a previous offer from Hot Topic of $17.50 per share, or about $117.3 million.

Fairfax, Va. -- Geeknet Inc., which announced a deal on Tuesday to be acquired by teen retailer Hot Topic, said Wednesday it had received a new and higher offer. The company said it would review the new offer.

Geeknet, parent company of online retailers ThinkGeek and ThinkGeek Solutions, said it received an offer from a "strategic buyer" that valued it at $20 per share in cash, or approximately $134.6 million.

Los Angeles -- Specialty teen retailer Hot Topic is acquiring Geeknet, parent company of online retailers ThinkGeek and ThinkGeek Solutions, for approximately $122 million, which is more than double the company’s market value.  

ThinkGeek sells a wide range of merchandise, including clothing, toys, and gadgets mostly based on popular movies, television shows and brands that have strong "geek" appeal, such as "Star Trek," ''The Big Bang Theory," and ''Star Wars."

Declining sales and mounting losses at online retailer Geeknet weren’t enough to deter Hot Topic from paying a steep price to acquire the retailer of products designed to appeal to the geek in everyone.

Los Angeles-based Hot Topic, operator of 650 specialty stores, entered into an agreement with Fairfax, Va.-based Geeknet to acquire the company for $17.50 a share, a 122% premium above Geeknet’s closing share price of $7.90 on Friday, May 22.

“Pitch Perfect” star Rebel Wilson is hot, and Torrid is leveraging that popularity by teaming up with the actress on a new fashion line.

The plus-size fashion retailer is launching REBEL FOR TORRID, an exclusive capsule collection created with the actress, writer and comedian. The limited edition Holiday collection launches November, and will be sold in TORRID stores nationwide and worldwide on TORRID.com.

Chicago -- Torrid, the edgy plus-sized apparel division of Hot Topic, will open a flagship on State Street in Chicago, on April 8. It’s part of 60 stores the retailer is planning to open across the country this year.

The 3,000-sq.-ft. store, located in The Loop, Chicago's historic shopping district, will be Torrid's tenth store in the Windy City.

What do you get when you cross a Disney princess and a mall goth? Hot Topic has found the answer with its new collection inspired by an upcoming Disney live action film.

Hot Topic’s new "Cinderella" collection will be available Feb. 24 exclusively at Hot Topic stores and on hottopic.com, with a pre-sale going on now at hottopic.com.

Trendy teen retailer Hot Topic is banking on the popularity of the upcoming animated movie The Book of Life to drive sales of an exclusive merchandise offering inspired by the 20th Century Fox and Reel FX Animation Studios film.

The movie arrives in theaters October 17 and Hot Topic in partnership with Twentieth Century Fox Consumer Products has introduced a graphically-stunning limited-edition collection of fashion apparel inspired by the fantasy-adventure film.