Hot Topic’s profit, stores grow in third quarter

Hot Topic Inc., the City of Industry-based teen retailer, said third-quarter profit rose 19%, as the number of stores the company operated grew.

Earnings increased to $7.1 million, or 16 cents a share, from $5.9 million, or 13 cents, a year earlier. Sales rose 2% to $196.7 million.

Sales at stores open at least a year, an important industry gauge known as same-store sales, decreased 6.8% in the quarter.