UPDATE 1-Hot Topic's Feb same-store sales beat Street; shares up

Wed Mar 4, 2009 10:54pm GMT
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* Feb same-store sales rise 10.8 pct

* Feb comps beats Street by 6 pct

* Sales at namesake, Torrid segments rise

* Shares up 9 pct

March 4 (Reuters) - Teen-clothing retailer Hot Topic Inc (HOTT.O: Quote, Profile, Research) reported a February comparable-store sales rise of 10.8 percent that handsomely beat the Wall Street estimate of a 4.8 percent increase, sending its shares up as much as 9 percent.

Hot Topic, which sells rock n' roll-inspired apparel and accessories as well as music, said same-store sales at its namesake segment rose about 12.4 percent, while that at its Torrid plus-size chain for young women rose 4.8 percent.

Hot Topic, whose rivals include Abercrombie & Fitch (ANF.N: Quote, Profile, Research), American Eagle Outfitters Inc (AEO.N: Quote, Profile, Research) and Wet Seal (WTSLA.O: Quote, Profile, Research), has been upgrading stores and merchandise in an attempt to reverse a lingering slump.

The mall and web-based retailer, which operates 679 Hot Topic stores and 159 Torrid stores, said on a pre-recorded call all geographic regions saw positive same-store sales in February.

All of the company's core merchandise categories at its Hot Topic segment performed well in the quarter.  Continued...

 
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