Hot Topic Inc. (HOTT) sales gains drive stock higher

Hot Topic Inc. (Nasdaq: HOTT) shares jumped 12.1% Thursday to $8.32. The teen retailer had a 0.4% gain in same-store sales when a decline was expected. Volume for the stock totaled 1.7 million shares, when a day usually passes with trades around 692,000.

On Wednesday, figures were released which showed net sales came in at $100 million in June. In addition, Hot Topic, Inc. announced today that on July 5, its Board of Directors declared a regular quarterly dividend of $0.07 per share payable on August 1, to shareholders of record at the close of business on July 18.

Management of the chain was not available for comment.

Hot Topic, Inc. is a mall and web based specialty retailer operating the Hot Topic and Torrid concepts. Hot Topic offers music/pop culture-licensed and music/pop culture-influenced apparel, accessories, music and gift items for young men and women principally between the ages of 12 and 22.

Torrid offers apparel, lingerie, shoes and accessories designed for various lifestyles for plus-size females principally between the ages of 15 and 29. As of July 2, 2011, the company operated 639 Hot Topic stores in all 50 states, Puerto Rico and Canada, 146 Torrid stores, and Internet stores www.hottopic.com and www.torrid.com.

Tags: buzz stocks, consumer discretionary, HOTT, nasdaq

This entry was posted on Thursday, July 7th, 2011 at 4:14 pm by Glenn and is filed under Consumer Discretionary Stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.