Hot Topic shares swoon after retailer posts guidance below the Street
Shares of Hot Topic, Inc. (Nasdaq:HOTT) are getting trounced after the mall retailer issued third-quarter earnings guidance after Wednesday’s close a penny shy of the Street and disseminated fourth-quarter earnings projections below to inline with analysts’ mean estimate. The earnings guidance, which is based on a decline in comparable store sales in the low-single digits, stole the limelight from the company’s narrowed second quarter loss.
Shares swooned 17%, or $1.16, to $5.71 in morning trading. For more detailed price information and stories on Hot Topic, click HOTT.
