A series of changes are set to take place at US teen retail chain Hot Topic after it failed to keep pace with its competitors in the marketplace.
New chief executive Lisa Harper started last week, and will now directly oversee merchandising following the departure of Amy Kocoureke, Hot Topic's merchandising boss.
The company - which stocks a wide range of licensed band and movie tees and accessories - will also write down unproductive inventory and 'non-core' fixed assets. Hot Topic has also shut down the ShockHound.com website.
In guidance for the first quarter of 2011, the retailer is expecting a loss in the range of a penny to four cents per share, apart from the costs related to the changes. It is expecting a drop of single digits in comparable store sales for the period.