Hot Topic expects to incur charge of approximately $0.04 per diluted share
08 Feb '07
2 min read
Hot Topic Inc announced the following sales results for its fiscal month of January as well as its fourth quarter and fiscal year (five weeks, fourteen weeks and fifty-three weeks, respectively, ended February 3, 2007).
The company expects to incur a charge of approximately $0.04 per diluted share related to asset impairment and lease termination charges for 12 under performing store locations that are expected to be closed in 2007 as well as other impairment charges in accordance with SFAS No. 144, "Accounting for the Impairment or Disposal of Long-Lived Assets".
Including these non-recurring charges, the company expects its fourth quarter earnings to be at the low end of its guidance of $0.20 to $0.22 per diluted share.
For more detailed information relating to the above matters, please call 626-709-1209 to listen to a recorded commentary. Additionally, a conference call to discuss fourth quarter and fiscal year end results, business trends, guidance and other matters is scheduled for March 14, 2007 at 4:30 PM (ET).
The conference call number is 866-700-0133, pass code "Hot Topic", and will be accessible to all interested parties. It will also be webcast at www.earnings.com. A replay will be available at 888-286-8010, pass code 94816544, for approximately two weeks.
Hot Topic Inc is a national mall-based specialty retailer. Hot Topic offers apparel, accessories and gifts to young men and women principally between the ages of 12 and 22.
marketing@alchempro.com
