Hot Topic

City of Industry, Calif. -- Hot Topic reported net income in the first fiscal quarter of $3.8 million, compared with a net loss of $7.7 million for the year-ago period. The results include $12.4 million of expenses for the implementation of the strategic business changes and cost reduction plan.

Total sales for the first quarter ended April 28, 2012, increased 6.4% to $171.5 million compared to $161.3 million for the first quarter last year. Same-store sales rose 7.5%.

NEW YORK — Several apparel retailers, including Limited Brands, Zumiez and Ross Stores, posted better-than-expected sales in April. It was widely expected that an earlier Easter, which pushed demand into March, and cool weather would hurt sales.

Limited Brands, parent of Victoria’s Secret, reported a 7% rise in same-store sales for April, beating estimates.

New York -- Several apparel retailers, including Limited Brands, Zumiez and Ross Stores, posted better-than-expected sales in April. It was widely expected that an earlier Easter, which pushed demand into March, and cool weather would hurt sales.

Limited Brands, parent of Victoria’s Secret, reported a 7% rise in same-store sales for April, beating estimates.

Teen clothing retailer Zumiez also beat expectations with a 10.1% gain in April. The Buckle’s same-stores sales edged up 1% slightly higher than analysts' estimates.

City of Industry, Calif. -- Hot Topic Inc. earned $9 million in the three months that ended Jan. 28, compared with a loss of $578,000 in the year-ago period, on reduced spending.

Revenue in the fourth quarter slipped 1% to $209.9 million, from $212.4 million. Same-store sales increased 1.3%.

City of Industry, Calif. -- Hot Topic reported Wednesday that same-store sales for the nine-week holiday shopping period of November and December edged up 1.2%. The company upped its fourth quarter guidance based on the results.

In related news, Hot Topic has named Cindy Levitt as VP, general merchandise manager, effective Jan. 16.

Change at the top is an inevitable fact of life in any profession, and retail is no exception. While the reasons behind the need to find a new chief executive vary widely, the incoming executives face a common challenge: taking the business — be it faltering or thriving — forward without missing a beat.

City of Industry, Calif. -- Hot Topic Inc. reported Wednesday that profit rose to $3.1 million in the quarter ended Oct. 29, compared with $400,000 in the year-ago period. Prior-year results were weighed down by charges from its ShockHound website, which folded.

Revenue fell 4% to $175.8 million from $183.2 million in the quarter, missing Wall Street’s expected $177.8 million in revenue.

Same-store sales dipped 1.6% at Hot Topic and Torrid stores, attributed to disappointing Halloween sales.
 

City of Industry, Calif. -- Hot Topic Inc. said that its CEO, Lisa Harper, 52, has also been named its board chairwoman.

Former chairman Bruce Quinnell will stay on as chairman of the audit committee, but he will not seek re-election to the board when his term ends in June, the company said.

The company also said Matthew Drapkin was named lead director.
 

CITY OF INDUSTRY, Calif. — Hot Topic has announced that two new executives have joined the company, Don Hendricks as CIO and Jeff Allison as SVP planning and allocation.

Hendricks will lead all information technology for Hot Topic Inc. Prior to joining Hot Topic, Hendricks was the CIO at Gymboree Corp. where he led many successful major systems implementations. In addition to his IT responsibilities, Hendricks was also responsible for distribution and logistics.

City of Industry, Calif. -- Hot Topic announced that two new executives have joined the company, Don Hendricks as CIO and Jeff Allison as senior VP planning and allocation.

Hendricks, who will lead all information technology for Hot Topic, most recently served as CIO at Gymboree Corp.

Allison, will lead the merchandise planning and allocation teams for both the Hot Topic and Torrid brands, most recently served as senior VP planning and allocation for Chico’s FAS.