Hot Topic Q4 profit down as sales slide

Pop-inspired apparel retailer Hot Topic posted a 44% decline in fourth quarter profit to US$8m after experiencing a double-digit sales decline.

Full-year profits were also down, falling 40% to $11.9m – and the US company said it expected to make a loss in the first quarter of fiscal 2010.

Hot Topic confirmed a fourth quarter sales decline of 10% to $214.2m, with its eponymous Hot Topic business posting a 12.4% sales fall, but Torrid revenues edging up 1.7%.

For the full year, total sales fell 3.2% to $736.7m, with Hot Topic down 4.5% and Torrid up 1.6%.

The company said it expected to record a first quarter loss of $0.02-0.05 per share, based on a comparable store sales decline in the high single digits.

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