Shares of teen/Goth retailer Hot Topic (HOTT) are down 4 cents in late trading at $7.25 after the company this afternoon reported same store sales fell 12.5% in April, worse than the consensus expectation for an 8% decline and below even the low estimate of 12%.
Total company same-store sales fell 8.7% in the first quarter, the company said.
The company also announced preliminary Q1results: it expects to report Q1 revenue of $162.6 million, down 7%, and below the average $164 million estimate of analysts.
The forecast for Q1 net loss per share of was tightened to a range of 3 cents to 4 cents, from a prior range of 2 cents to 5 cents.
HOTT is expected to report final results May 19.
Most major retailers are expected to report April store results this evening or tomorrow morning.
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