Hot Topic profit down in Q4
City of Industry, Calif. Hot Topic reported that its fourth-quarter and year-end profits were down, as sales numbers continue to drop for the apparel retailer.
In the quarter, the company earned $8 million, while it earned $14.2 million in the same period last year. Sales at the company fell 10% to 214.2 million, down from $238 million a year ago.
For 2009, the company earned $11.9 million on $736.7 million in sales. In 2008, the company earned $19.7 million on sales of $761.1 million.
As of Jan. 30, Hot Topic operated 680 Hot Topic and 156 Torrid stores.