By Nivedita Bhattacharjee
BANGALORE, May 6 (Reuters) - Teen-clothing retailer Hot Topic Inc posted April same-store sale results that missed estimates, even though monthly sales rose, as sales at its Torrid stores and women's segments weighed down on performance.
Shares of the company went down as much as 15 percent to $10.53 in after-hours trade.
Same-store sales, or sales at stores open for at least a year, were up 3.1 percent, compared with analyst estimates of 7 percent.
Sales of merchandise related to the popular teen vampire movie 'Twilight' saw lesser prominence at stores as expected, the company said in a pre-recorded sales call.
Hot Topic, which also sells music, had topped same-store estimates for March comfortably, with sales of Twilight DVDs being responsible for roughly half of the comparable sales rise.
For April, the company said same-store sales were up 15 percent for accessories, but down 10 percent for women's segment.
The company, which is a favourite with teenagers for its popular Goth and rock 'n' roll-inspired apparel and accessories, saw April comparable sales rise 5 percent at its namesake stores, but those at Torrid stores fell 2.8 percent.
The mall and Internet-based retailer posted monthly sales of $47.3 million, a rise of nearly 6 percent.
However, analyst Brian Sozzi of Wall Street Strategies Inc (wstreet.com) said the retailer lost momentum in the latter stages of the month and is heading into a traditionally slower period for its business.
He also said that the company did not give any colour on outlook for the coming quarter makes it likely to post first-quarter results in line with estimates.
First-quarter revenue rose 10 percent to $175.1 million, beating market estimates.
(Editing by Anil D'Silva) Keywords: HOTTOPIC/ (nivedita.bh@thomsonreuters.com ; within U.S. +1 646223 8780; Outside U.S. +91 804135 5800; Reuters messaging: nivedita.bh.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
BANGALORE, May 6 (Reuters) - Teen-clothing retailer Hot Topic Inc posted April same-store sale results that missed estimates, even though monthly sales rose, as sales at its Torrid stores and women's segments weighed down on performance.
Shares of the company went down as much as 15 percent to $10.53 in after-hours trade.
Same-store sales, or sales at stores open for at least a year, were up 3.1 percent, compared with analyst estimates of 7 percent.
Sales of merchandise related to the popular teen vampire movie 'Twilight' saw lesser prominence at stores as expected, the company said in a pre-recorded sales call.
Hot Topic, which also sells music, had topped same-store estimates for March comfortably, with sales of Twilight DVDs being responsible for roughly half of the comparable sales rise.
For April, the company said same-store sales were up 15 percent for accessories, but down 10 percent for women's segment.
The company, which is a favourite with teenagers for its popular Goth and rock 'n' roll-inspired apparel and accessories, saw April comparable sales rise 5 percent at its namesake stores, but those at Torrid stores fell 2.8 percent.
The mall and Internet-based retailer posted monthly sales of $47.3 million, a rise of nearly 6 percent.
However, analyst Brian Sozzi of Wall Street Strategies Inc (wstreet.com) said the retailer lost momentum in the latter stages of the month and is heading into a traditionally slower period for its business.
He also said that the company did not give any colour on outlook for the coming quarter makes it likely to post first-quarter results in line with estimates.
First-quarter revenue rose 10 percent to $175.1 million, beating market estimates.
(Editing by Anil D'Silva) Keywords: HOTTOPIC/ (nivedita.bh@thomsonreuters.com ; within U.S. +1 646223 8780; Outside U.S. +91 804135 5800; Reuters messaging: nivedita.bh.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.