0001157523-12-000026.txt : 20120104 0001157523-12-000026.hdr.sgml : 20120104 20120104160523 ACCESSION NUMBER: 0001157523-12-000026 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120104 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120104 DATE AS OF CHANGE: 20120104 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HOT TOPIC INC /CA/ CENTRAL INDEX KEY: 0001017712 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-APPAREL & ACCESSORY STORES [5600] IRS NUMBER: 770198182 STATE OF INCORPORATION: CA FISCAL YEAR END: 0130 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-28784 FILM NUMBER: 12506136 BUSINESS ADDRESS: STREET 1: 18305 EAST SAN JOSE AVENUE CITY: CITY OF INDUSTRY STATE: CA ZIP: 91748 BUSINESS PHONE: 6268394681 MAIL ADDRESS: STREET 1: 18305 EAST SAN JOSE AVENUE CITY: CITY OF INDUSTRY STATE: CA ZIP: 91768 8-K 1 a50121342.htm HOT TOPIC, INC. 8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549



Form 8-K

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


Date of Report (Date of earliest event reported):  January 4, 2012


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

California

 

0-28784

 

77-0198182

(State or other
jurisdiction of
incorporation)

(Commission File
Number)

(I.R.S. Employer
Identification No.)

 

18305 E. San Jose Avenue

City of Industry, California

91748

(Address of principal executive offices)

(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 8.01

Other Events.

On January 4, 2012, Hot Topic, Inc. issued a press release announcing that its Board of Directors declared a regular quarterly dividend of $0.07 per share payable on January 30, 2012 to shareholders of record at the close of business on January 17, 2012.

The full text of the press release is furnished as Exhibit 99.1 to this report.

Item 9.01

Financial Statements and Exhibits.

 
(d) Exhibits:
 

Exhibit No.

Description

 
99.1 Press Release of Hot Topic, Inc. dated January 4, 2012.




[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: January 4, 2012


INDEX TO EXHIBITS

Exhibit No.

Description

 
99.1

Press Release of Hot Topic, Inc. dated January 4, 2012.

EX-99.1 2 a50121342-ex991.htm EXHIBIT 99.1

Exhibit 99.1

Hot Topic, Inc. Reports Holiday 2011 Comp Store Sales Up 1.2%

Updates Guidance, Announces Quarterly Dividend and New Hot Topic GMM

CITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--January 4, 2012--Hot Topic, Inc. (NASDAQ: HOTT) today announced the sales results for the combined November/December “Holiday” period (nine weeks ended December 31, 2011). A summary of the sales results by division (including Internet) is as follows:

 
  Comparable Store  
Sales % Change Net Sales
    % Change
This Last $ To Last
Year Year Millions Year
HOLIDAY:
Hot Topic 2.2 % -2.3 % $ 140.0 -1.1 %
 
Torrid -3.7 % 0.6 % $ 30.5 -3.5 %
 
Total Co. 1.2 % -1.8 % $ 170.5 -1.5 %
 

YEAR TO DATE:

Hot Topic -0.1 % -6.7 % $ 505.4 -2.6 %
 
Torrid 2.7 % -0.5 % $ 153.1 1.9 %
 
Total Co. 0.5 % -5.5 % $ 658.5 -1.6 %
 

The company updated guidance for the fourth quarter, announcing earnings of $0.17 to $0.19 per diluted share from the previously announced $0.16 to $0.20 per share. This compares to earnings per share of $0.12 last year which excluded expenses of $0.13 per share for the implementation of the cost reduction plan.

The company announced that its Board of Directors declared a regular quarterly dividend of $0.07 per share payable on January 30, 2012, to shareholders of record at the close of business on January 17, 2012.

The company also announced that Cindy Levitt will be rejoining the company as Vice President, General Merchandise Manager for the Hot Topic Division on January 16, 2012. Lisa Harper commented, “Cindy’s proven skills in merchandising are matched by her ability to successfully develop merchant talent. Her passion for the business complements the new vision we have established for Hot Topic. Cindy will play a key role in both strategy and execution at Hot Topic as we move forward into fiscal 2012.”


Hot Topic, Inc. is a mall and web based specialty retailer operating the Hot Topic and Torrid concepts. 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. As of December 31, 2011, the company operated 631 Hot Topic stores in all 50 states, Puerto Rico and Canada, 149 Torrid stores, and Internet stores hottopic.com and torrid.com.

This news release contains forward-looking statements, which may include statements relating to financial results, guidance, store and online operations (including closures, remodels and relocations), projections, financial performance including cost reductions and changes in business operations, and related matters. These statements involve risks and uncertainties, including risks and uncertainties associated with meeting expected financial results, fluctuations in sales and comparable store sales results, 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 29, 2011, 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.

CONTACT:
Hot Topic, Inc.
Jim McGinty, CFO, 626-839-4681 x2675