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CITY OF INDUSTRY, Calif. – Teen retailer Hot Topic Inc. on Wednesday said February sales fell 7 percent at stores open at least a year.
Analysts surveyed by Thomson Reuters, on average, expected a 13.1 percent drop in the figure, a closely watched indicator of performance in the retail industry. A year ago, sales at stores open at least a year dropped 10.8 percent.
At the company's namesake stores open at least a year, sales fell 11.2 percent. At its Torrid shops, they rose 8.5 percent.
Total sales for February fell 5.3 percent to $54.2 million. The company operates about 840 stores in malls throughout the country.
Hot Topic shares closed Wednesday trading up 4 cents at $6.25.
