Hot Topic Inc. (HOTT) said fiscal fourth-quarter earnings fell, as sales and margin slipped compared to a year ago.
The apparel retailer forecast a first-quarter loss in the range of 2 to 5 cents a share, which was in-line with the Street’s view. Analysts polled by Thomson Reuters had expected a loss of 2 cents per share.
For the fiscal fourth quarter, the company saw profit of $8 million or 18 cents a share, which compares to year-ago profit of $14.2 million or 32 cents a share, one year ago.
Sales fell 10% during the quarter to $214.2 million, compared to net sales of $238.0 million one year ago. Same-store sales slipped 11.5%, compared to a year-ago increase of 5.2%, while gross margin fell to 35.7%, down from 38.6% in the fourth quarter of last year.
Analysts had predicted the teen retailer would report earnings of 18 cents on revenue of $214.6 million.
Shares of Hot Topic were up 2 cents or 0.31% in Wednesday’s session, closing at $6.55 a share. The stock was down 38 cents or 5.80% in after-hours trading.
