Press Release:
CITY OF INDUSTRY, Calif.–(BUSINESS WIRE)– Hot Topic, Inc. (Nasdaq Global Select Market: HOTT) announced today that Betsy McLaughlin has resigned as its Chief Executive Officer and a member of the company’s board of directors, effective as of March 21, 2011, and that Lisa Harper, currently a member of the company’s board of directors, has been appointed as Chief Executive Officer, also effective as of March 21, 2011. Ms. McLaughlin will continue to assist in transition matters for the next three months.
Bruce Quinnell, Chairman of the Board, said, “We thank Betsy for her many years of dedicated service to Hot Topic. We also welcome Lisa to the management team, and look forward to her guidance and leadership.”
A conference call to discuss the chief executive officer transition, fourth quarter and fiscal year results and business trends, future guidance and other matters is scheduled for March 28, 2011 at 4:30 PM (ET).
The conference call number is [866-713-8564], 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 https://investorrelations.hottopic.com. A replay of the conference call will be available at 888-286-8010, pass code [67552082], 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. is a mall and web based specialty retailer operating the Hot Topic and Torrid concepts, as well as the e-space music concept, ShockHound. Hot Topic offers music/pop culture-licensed and music/pop culture-influenced apparel, accessories, music and gift items for young men and women principally between the ages of 12 and 22.
Torrid offers apparel, lingerie, shoes and accessories designed for various lifestyles for plus-size females principally between the ages of 15 and 29. ShockHound (www.shockhound.com) is a genre-spanning music website where people of all ages can purchase MP3s and music merchandise, share their music interests, read the latest music news and view exclusive editorial content.
As of February 26, 2011, the company operated 653 Hot Topic stores in all 50 states, Puerto Rico and Canada, 151 Torrid stores, and Internet stores www.hottopic.com, www.torrid.com and www.shockhound.com.
