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Hot Topic reports decline in sales

Hot Topic Inc., City of Industry, Calif., is down in its fourth-quarter earnings, reporting $10.6 million for the period ended Jan. 28, 2006. Last year's sales for the same period totaled $17.4 million. The company's overall sales increased 9 percent, totaling $230.4 million (up from $211.3 last year).

The company also announced in its earnings statement that it would not open as many stores as it originally planned. Currently, the retailer plans to open 40 new Hot Topic stores (20 less than previously announced) and 10 new Torrid stores (15 less than previously announced).

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