CITY OF INDUSTRY, Calif. (AP) — Hot Topic Inc.'s fourth-quarter profit jumped more than 30 percent on better sales at its teen clothing stores.
The company, based in City of Industry, Calif., runs its chain of namesake stores and Torrid, which sells clothing, accessories and lingerie to women sizes 12 and up. It also recently introduced a store called Blackheart that sells what it calls "dark" and "edgy" lingerie, accessories and beauty products.
Hot Topic said after the market closed Wednesday that it earned $12.1 million, or 29 cents per share, for the quarter that ended Feb. 2. That's up from $9 million, or 21 cents per share, in the same quarter a year ago. It got a boost from an extra week in the recent period.
Total sales increased 11 percent to $233 million.
Analysts polled by FactSet, on average, expected earnings of 27 cents per share on revenue of $232.3 million.
Sales from stores open at least a year increased 2.6 percent. Those comparable-store sales are a key indicator of retailer performance since it strips away the impact of recently closed or opened stores.
The company operated 618 Hot Topic stores, 190 Torrid stores and five Blackheart stores as of the end of the quarter.
Hot Topic shares added a penny to close at $13.85. The stock's value has doubled since the end of 2011.