Hot Topic Raises Q1 EPS Guidance to $0.07-0.08 vs $0.02-0.05 Prior Guidance

Hot Topic, Inc.

raised its first quarter earnings guidance to a range of $0.07 to $0.08 per share. Previous earnings guidance for the company was in the range of $0.02 to $0.05 per share based upon a comparable sales increase in the mid-single-digit percentage range. The company issued second quarter guidance (13 weeks ending July 28, 2012) of a loss per share in the range of $0.04 to $0.06, as compared to a loss per share of $0.14 last year, which included $4.1 million of expenses, or $0.06 per share, for the charges related to strategic business changes and cost reduction plan. This guidance is based upon a comp sales increase in the low to mid-single-digit percentage range.