Capitalizing on its tie-in with a teen-oriented movie, Hot Topic Inc. went against the grain of specialty store competitors Wednesday with higher third-quarter sales and earnings. The company beat analysts’ expectations and maintained fourth-quarter guidance.
For the quarter ended Nov. 1, the City of Industry, Calif.-based company reported an 11.4 percent increase in profits, to $7.4 million, or 17 cents a share, from $6.7 million, or 15 cents a share, for the year-ago period. Net sales grew 4.7 percent to $197.3 million from $188.5 million. Analysts surveyed by Yahoo Finance were expecting EPS of 16 cents on sales of $195.8 million.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)