FINANCE

GameStop profit rises 6.9% in Q1

BY CSA STAFF

Grapevine, Texas — GameStop Corp. reported Thursday that fiscal first-quarter profit rose 6.9% to $80.4 million, compared with $75.2 million a year earlier.

Overall sales rose 9.5% to $2.28 billion, while same-store sales increased 5.3%.

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FINANCE

Casual Male Q1 profit rises slightly, misses expectations

BY CSA STAFF

Canton, Mass. — Casual Male Retail Group reported Thursday that net income for the quarter ended April 30 edged up 1% to $4.2 million.

Revenue increased 1% to $95.8 million from $95 million, missing Wall Street’s estimate of $97.4 million. Same-store sales rose 2.2%.

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FINANCE

Hot Topic loss widens in Q1

BY CSA STAFF

City of Industry, Calif. — Hot Topic reported Wednesday that its loss for the fiscal first quarter widened to $7.7 million, compared to a net loss of $1.8 million last year.

The first quarter results include $12.4 million of expenses for the implementation of the previously announced charges for strategic business changes and cost reduction plan.

Revenue dipped 0.8% to $161.3 million compared with $162.6 million for the first quarter last year. Same-store sales edged up 0.2%.

During the first quarter of fiscal 2011, the company opened one Torrid store and closed 15 Hot Topic stores and three Torrid stores. The company also remodeled or relocated 11 Hot Topic stores during the quarter.

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