A slowdown in apparel revenues and overall sales contributed to lower profits in the third quarter at Hot Topic Inc., the company said Wednesday.
In the quarter ended Oct. 31, the City of Industry, Calif.-based teen retailer’s net income fell 21.4 percent to $5.8 million, or 13 cents a diluted share. A year ago the firm posted net income of $7.4 million, or 17 cents a share. The earnings per share results matched estimates by analysts polled by Yahoo Finance.
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