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Hot Topic Plans Redesigns

CITY OF INDUSTRY, CA-Teen-apparel retailer Hot Topic said it will move away from its Gothic design when it opens 35 stores next year.

By Beverly Ford | Updated on November 16, 2006

CITY OF INDUSTRY, CA-Hot Topic Inc. is in a teenage growth spurt. The teen clothing and accessory retailer plans to open 35 stores in 2007 on top of the 60 new stores opened this year, 14 of them in the third quarter.

The announcement of the teen clothing retailer’s expansion plans comes on the heels of a jump in third-quarter profits that brought in $7.1 million, or 15 cents per share, for the City of Industry-based firm during the 13 weeks ended Oct. 28. That’s a 19% hike in profits, more than the $5.9 million, or 13 cents per share, earned in the same period last year.

The company, which currently operates 693 Hot Topic and 129 Torrid mall-based stores, said overall sales rose 2% to $196.7 million during the quarter, up from $192.7 million from the same period one year earlier. Sales at stores open at least a year were off, however, declining 6.8%.

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