Hot Topic same-store sales fall 9.0% in May
City of Industry, Calif. Hot Topic on Wednesday reported that its same-store sales dropped 9.0% in the four-week period ended May 29.
The company reported that net sales for the month were $42.6 million, down 7.4% from last year.
Its namesake brand brought in $30.6 million in net sales for the period, while Torrid brought in $12.0 million.
Fire up some savings
As it has become more challenging for retailers to demonstrate value on leading brands, one of Target’s favorite strategies is the $5-gift-card offer when shoppers purchase two or more featured items. While it’s a nice bonus to get $5 for free on items shoppers purchase regularly, this week’s “wow” item is a Brinkman-brand gas grill featured in the retailer’s circular. Available in red or stainless steel, shoppers can receive a $100 gift card for purchasing the $329 product with free assembly. The allure of $100 makes the prospect of purchasing the grill much more compelling.
Target wins again, but who saw it?
Brand Target scored a victory this weekend at the Indianapolis 500, when Dario Franchitti took the checkered flag for Target Chip Ganassi Racing. Franchitti led 155 of the race’s 200 laps to claim his second Indianapolis 500 victory. Not only did the Target sponsored car win the race, but the other car Target sponsors, driven by Scott Dixon, finished in fifth place. That’s great news from a competition standpoint, but unfortunately from a marketing standpoint the Indianapolis 500 is not platform for marketing communications it once was. Interest in the event continues to wane as numerous empty seats were visible in the stands throughout the race. And from the standpoint of television viewers, there is nothing worse or more boring that when a driver leads from wire to wire as was practically the case with Franchitti’s dominant showing.