Men’s Wearhouse narrows Q4 loss
Houston — The Men’s Wearhouse reported a net loss of $3.8 million for the quarter that ended Jan. 28, compared with a net loss of $14.1 million a year earlier, as it cut costs and increased prices.
The results beat forecasts, and the company said it expects 2012 income to be higher than expectations.
Revenue was $562.2 million, up from $542.1 million.
Hot Topic reports Q4 profit on cost-cuts
City of Industry, Calif. — Hot Topic Inc. earned $9 million in the three months that ended Jan. 28, compared with a loss of $578,000 in the year-ago period, on reduced spending.
Revenue in the fourth quarter slipped 1% to $209.9 million, from $212.4 million. Same-store sales increased 1.3%.
In the fourth quarter of fiscal 2010, Hot Topic took a charge of $12.8 million related to a cost-cutting plan and a write-down of ShockHound, its music download and social networking website, which it shut down in May. The company said its selling, general and administrative expenses fell almost $10 million from a year ago, to $59.4 million for the quarter.
The retailer closed six Hot Topic stores during the quarter and had 628 at the end of the year. It opened four Torrid stores and closed two, giving it a total of 148 at the end of the period.
For the full year, Hot Topic lost $1.8 million, less than its loss of $8.2 million in fiscal 2010. Revenue was down 1% to $697.9 million, from $708.2 million.
DSW announces two stores in Manhattan
New York — DSW Inc. has opened on 34th Street in Manhattan, in the heart of New York’s fashion district. The retailer also announced plans to open a store on the Upper West Side in early summer 2012.
At over 33,000 sq. ft., the 34th Street location is the one of the largest in the DSW chain. It has three floors of selling space. The DSW store at 79th and Broadway will also be very large, measuring over 32,000 sq. ft.