Hot Topic, Inc. October Comp Store Sales Down 8.5%

Hot Topic, Inc. HOTT today announced the sales results for October were down 8.% The company expects its third quarter earnings to be at the low end of its previous guidance of $0.05 to $0.08 per diluted share, excluding a non-cash asset impairment charge. The third quarter results will include this non-cash asset impairment charge of approximately $3.0 million, or $0.04 per diluted share, in selling, general and administrative expenses related to the impairment of ShockHound.com assets. Including this non-cash asset impairment charge, the company expects earnings per diluted share to be approximately $0.01.