8-K

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

Form 8-K

Current Report Pursuant to Section 13 or 15(d) ofThe Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  August 18, 2010

Hot Topic, Inc.(Exact name of registrant as specified in charter)

California (State or other jurisdiction of incorporation)	0-28784 (Commission File Number)	77-0198182 (I.R.S. Employer Identification No.)
18305 E. San Jose Avenue City of Industry, California (Address of principal executive offices)		91748 (Zip Code)

Registrant’s telephone number, including area code:(626) 839-4681

Not Applicable.
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

Attached hereto as Exhibit 99.1 is a copy of a press release that Hot Topic, Inc. issued on August 18, 2010, containing certain financial information for the second quarter ended July 31, 2010.

The information in this Item 2.02 and the corresponding exhibit are being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits:

Exhibit No.	Description
99.1	Press Release of Hot Topic, Inc. dated August 18, 2010.

[Remainder of page intentionally left blank; signature on following page.]

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	HOT TOPIC, INC.
	By:	/s/ JAMES MCGINTY
		James McGinty Chief Financial Officer
Date: August 18, 2010

INDEX TO EXHIBITS

Exhibit No.	Description
99.1	Press Release issued by Hot Topic, Inc. on August 18, 2010.

EX-99.1

Exhibit 99.1

Hot Topic, Inc. Reports 2^nd Quarter Loss of $0.14 Per Share

Provides Guidance for the 3^rd Quarter of 2010

CITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--August 18, 2010--Hot Topic, Inc. (Nasdaq Global Select Market: HOTT) today announced that the company incurred a net loss in the second quarter of fiscal 2010 (13 weeks ended July 31, 2010) of $6.3 million, or $0.14 per share, compared with a net loss of $3.2 million, or $0.07 per share, in the second quarter of fiscal 2009 (13 weeks ended August 1, 2009). The results for the second quarter of fiscal 2010 and fiscal 2009 include approximately $0.02 per share of expense related to ShockHound (www.shockhound.com), the company’s online music site.

Total sales for the second quarter of fiscal 2010 decreased 4.9% to $150.0 million compared to $157.8 million for the second quarter last year. Total company comparable store sales declined 6.4% for the second quarter of fiscal 2010. A summary of the sales results by division (including internet) is as follows:

			Comparable Store
	Net Sales		Sales % Change
		% Change
	$	To Last	This	Last
	Millions	Year	Year	Year
SECOND QUARTER:
Hot Topic	$113.3	-5.5%	-6.5%	-7.5%
Torrid	$36.7	-3.4%	-6.0%	-8.4%
Total Co.	$150.0	-4.9%	-6.4%	-7.7%

At the end of the second quarter of fiscal 2010, the company operated 679 Hot Topic stores and 155 Torrid stores compared to 679 Hot Topic stores and 156 Torrid stores at the end of the second quarter of fiscal 2009. During the second quarter of fiscal 2010, the company opened one new Hot Topic store and one new Torrid store, and closed three Hot Topic stores and two Torrid stores. The company also remodeled or relocated six Hot Topic stores during the quarter.

The company issued third quarter (13 weeks ending October 30, 2010) guidance of earnings in the range of $0.05 to $0.08 per diluted share based upon a mid-single-digit decline in comparable store sales. Included in the guidance is expense related to ShockHound (www.shockhound.com), the company’s online music site, of approximately $0.02 per share.

A conference call to discuss second quarter results, business trends, guidance and other matters is scheduled for August 18, 2010 at 4:30 PM (ET). The conference call number is 866-202-4367, pass code “Hot Topic”, and will be accessible to all interested parties. It will also be webcast on the company’s Investor Relations website located at http://investorrelations.hottopic.com. A replay of the conference call will be available at 888-286-8010, pass code 66128973, for approximately two weeks. In addition, a webcast replay of the conference call will be available on the company’s Investor Relations website for approximately two weeks.

Hot Topic, Inc. is a mall and web based specialty retailer operating the Hot Topic and Torrid concepts, as well as the e-space music concept, ShockHound. Hot Topic offers music/pop culture-licensed and music/pop culture-influenced apparel, accessories, music and gift items for young men and women principally between the ages of 12 and 22. Torrid offers apparel, lingerie, shoes and accessories designed for various lifestyles for plus-size females principally between the ages of 15 and 29. ShockHound (www.shockhound.com) is a genre-spanning music website where people of all ages can purchase MP3s and music merchandise, share their music interests, read the latest music news and view exclusive editorial content.

In addition to historical information, this news release and the aforementioned conference call contain forward-looking statements, which may include statements relating to financial results, guidance, store operations, closures, remodels and relocations, projections and other financial performance. These statements involve risks and uncertainties, including risks and uncertainties associated with meeting expected financial results, fluctuations in sales and comparable store sales results, our online music site, music, license and fashion trends, competition from other retailers, uncertainties generally associated with specialty retailing, technology and other risks associated with Internet sales, the effect of negative conditions in the economic environment (including global capital and credit markets), the effect of severe weather or natural disasters, political and/or social changes or events that could negatively impact shopping patterns and/or mall traffic, relationships with mall developers and operators, relationships with our vendors, litigation proceedings and contingent liabilities, as well as other risks detailed in the company’s SEC reports including its Annual Report on Form 10-K for the year ended January 30, 2010 and its Quarterly Reports on Form 10-Q. Historical results achieved are not necessarily indicative of the future prospects of the company, and actual results or circumstances could differ materially from the forward-looking statements.

HOT TOPIC, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)
	Second Quarter Ended
	July 31, 2010		Aug. 1, 2009
Net sales	$150,007		$157,793
Cost of goods sold, including buying, distribution and occupancy costs	103,985		108,135
Gross margin	46,022		49,658
Selling, general & administrative expenses	56,381		55,084
Loss from operations	(10,359	)	(5,426	)
Interest income-net	58		183
Loss before benefit for income taxes	(10,301	)	(5,243	)
Benefit for income taxes	(4,032	)	(2,066	)
Net loss	$(6,269	)	$(3,177	)
Loss per share:
Basic and Diluted	$(0.14	)	$(0.07	)
Shares used in computing loss per share:
Basic and Diluted	44,563		44,064
	Six Months Ended
	July 31, 2010		Aug. 1, 2009
Net sales	$312,654		$332,917
Cost of goods sold, including buying, distribution and occupancy costs	212,169		223,129
Gross margin	100,485		109,788
Selling, general & administrative expenses	113,836		113,362
Loss from operations	(13,351	)	(3,574	)
Interest income-net	132		353
Loss before benefit for income taxes	(13,219	)	(3,221	)
Benefit for income taxes	(5,173	)	(1,269	)
Net loss	$(8,046	)	$(1,952	)
Loss per share:
Basic and Diluted	$(0.18	)	$(0.04	)
Shares used in computing loss per share:
Basic and Diluted	44,480		44,032

HOT TOPIC, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
	July 31, 2010	Aug. 1, 2009
Current Assets:
Cash, cash equivalents and short-term investments	$61,790	$82,052
Inventory	88,572	90,363
Prepaid expenses and other	22,268	18,292
Deferred tax assets	6,041	6,213
Total current assets	178,671	196,920
Property and equipment, net	135,095	148,954
Deposits and other	3,860	2,901
Long-term investments	6,614	5,170
Deferred tax assets	5,532	8,440
Total assets	$329,772	$362,385
Current Liabilities:
Accounts payable	$35,939	$26,395
Accrued liabilities	35,690	35,985
Income taxes payable	538	910
Total current liabilities	72,167	63,290
Deferred rent	29,820	34,356
Deferred compensation liability	3,609	2,601
Income taxes payable	2,380	1,850
Total liabilities	107,976	102,097
Total shareholders’ equity	221,796	260,288
Total liabilities and shareholders’ equity	$329,772	$362,385
OTHER DATA
(Dollars in thousands)
(Unaudited)
	Six Months Ended
	July 31, 2010	Aug. 1, 2009
Depreciation and amortization	$19,626	$18,980
Capital expenditures	$14,983	$13,356
Total company store square footage	1,583,600	1,582,500
Hot Topic average store size	1,762	1,758
Torrid average store size	2,497	2,493

CONTACT:
Hot Topic, Inc., City of Industry, CA
Jim McGinty, CFO, 626-839-4681 x2675