Provides Guidance for the 2nd Quarter of 2009

CITY OF INDUSTRY, Calif., May 20, 2009 (GLOBE NEWSWIRE) -- Hot Topic, Inc. (Nasdaq:HOTT), reported results for its first quarter of fiscal 2009 (13 weeks) ended May 2, 2009.

The company reported net income in the first fiscal quarter of $1.2 million, or $0.03 per diluted share, compared to a net loss of $1.4 million, or $0.03 per share, for the comparable period last year. The first quarter of fiscal 2009 results include approximately $0.02 per share of expense related to ShockHound (www.shockhound.com), the company's online music site.

As previously reported, total sales for the first quarter of fiscal 2009 increased 10.1% to $175.1 million compared to $159.0 million for the first quarter last year. Total company comparable store sales increased 7.1% for the first quarter of fiscal 2009. A summary of the sales results by division (including internet) is as follows:

                                                     Comparable Store
                                    Net Sales         Sales % Change
                                ------------------  ------------------
                                          % Change
                                   $       To Last    This      Last
                                Millions    Year      Year      Year
                                --------  --------  --------  --------
  FIRST QUARTER:
       Hot Topic                  $134.8     11.4%      9.6%     -3.0%
       Torrid                      $40.3      6.2%     -1.7%     -2.0%
       Total Co.                  $175.1     10.1%      7.1%     -2.8%

At the end of the first quarter of fiscal 2009, the company operated 679 Hot Topic stores and 158 Torrid stores compared to 686 Hot Topic stores and 154 Torrid stores at the end of first quarter of fiscal 2008. During the first quarter of fiscal 2009, the company closed two Hot Topic stores and one Torrid Store. The company also remodeled or relocated three Hot Topic stores during the quarter.

The company issued second quarter guidance (13 weeks ending August 1, 2009) of a loss per share in the range of $0.04 to $0.06, as compared to a loss per share of $0.01 last year. This guidance is based upon a comp sales decline in the mid-single-digit percentage range. Included in the guidance is approximately $0.02 per share of expense related to ShockHound (www.shockhound.com), the company's online music site.

A conference call to discuss first quarter results, business trends, guidance and other matters is scheduled for May 20, 2009 at 4:30 PM (ET). The live conference call number is 866-362-4829, pass code "Hot Topic," and will be accessible to all interested parties. It will also be webcast on the company's Investor Relations website located at http://investorrelations.hottopic.com. A replay of the conference call will be available at 888-286-8010, pass code 59502089, for approximately two weeks. In addition, a webcast replay of the conference call will be available on the company's Investor Relations website for approximately two weeks.

Hot Topic, Inc.