NEW YORK — Solid back-to-school and Halloween selling seasons added up to double-digit profit and sales gains for Hot Topic Inc., the rock-oriented specialty teen retailer.
The City of Industry, Calif.-based retailer said for the three months ended Nov. 2 that net income floated 18.1 percent to $10 million, or 31 cents a diluted share, beating expectations by 1 cent. In last year’s comparable period, HT’s income was $8.5 million, or 26 cents. Net sales for the quarter increased 33.1 percent to $122.6 million from $92.1 million and escalated 6.3 percent on a comparable-store basis. Per-share figures reflect a three-for-two stock split effected on Feb. 7.
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