Hot Topic reports a narrower loss
From Times Wire Services
Hot Topic Inc. said its fiscal second-quarter loss narrowed as revenue inched up.
For the three months that ended Aug. 2, the teen clothing retailer lost $450,000, or a penny a share. That compares with a year-earlier loss of $1.7 million, or 4 cents a share.
The City of Industry firm said results included a penny-per-share charge related to its online music initiative.
Revenue climbed 3% to $166.8 million.
Analysts surveyed by Thomson Reuters had predicted a loss of 2 cents a share, excluding one-time events, on revenue of $166.7 million.
The company said same-store sales declined nearly 1%.
Hot Topic shares rose 11 cents to $6.87.
