Hot Topic Reports Mediocre Earnings; Updates Guidance (HOTT)

Hot Topic Inc. HOTT reports Q2 EPS loss of $0.14 versus estimates of $0.13 loss. Hot Topic Inc. reports revenues of $150 million versus estimates of $150.36 million. Sales decreased 4.9% year over year. Same store sales for Q2 declined 6.4%. 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. Shares of HOTT are higher in the after-hours by 0.26%.