<SUBMISSION>
<ACCESSION-NUMBER>0001157523-10-003283
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20100519
<ITEMS>2.02
<ITEMS>9.01
<FILING-DATE>20100519
<DATE-OF-FILING-DATE-CHANGE>20100519
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>HOT TOPIC INC /CA/
<CIK>0001017712
<ASSIGNED-SIC>5600
<IRS-NUMBER>770198182
<STATE-OF-INCORPORATION>CA
<FISCAL-YEAR-END>0130
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-28784
<FILM-NUMBER>10845345
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>18305 EAST SAN JOSE AVENUE
<CITY>CITY OF INDUSTRY
<STATE>CA
<ZIP>91748
<PHONE>6268394681
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>18305 EAST SAN JOSE AVENUE
<CITY>CITY OF INDUSTRY
<STATE>CA
<ZIP>91768
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a6298059.htm
<DESCRIPTION>HOT TOPIC, INC. 8-K
<TEXT>
<html>
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    <title></title>
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  <body style="font-family: Times New Roman; font-size: 10pt">
    <p style="white-space: nowrap">

    </p>
    <p style="text-align: center">
      <font style="font-size: 18pt"><b>UNITED STATES</b></font><b><font style="font-size: 18pt"><br style="font-size: 18pt"></font><font style="font-size: 18pt">SECURITIES
      AND EXCHANGE COMMISSION</font><font style="font-size: 18pt"><br style="font-size: 18pt"></font>Washington,
      D.C. 20549</b>
    </p>
    <hr style="height: 1.0 pt; color: #000000; text-align: center; width: 15%">


    <p style="white-space: nowrap; text-align: center">
      <font style="font-size: 18pt"><b>Form&#160;8-K</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt"><b>Current Report Pursuant to Section&#160;13
      or 15(d) of</b></font><b><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt">The
      Securities Exchange Act of 1934</font></b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt"><b>Date of Report (Date of earliest event
      reported):&#160;&#160;</b></font><b><font style="font-size: 12pt; font-family: Times New Roman">May
      19, 2010</font></b>
    </p>
    <hr style="height: 1.0 pt; color: #000000; text-align: center; width: 15%">


    <p style="text-align: center">
      <br>
      <font style="font-size: 18pt"><b>Hot Topic, Inc.</b></font><b><font style="font-size: 18pt"><br style="font-size: 18pt"></font></b>(Exact
      name of registrant as specified in charter)
    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="font-size: 10pt; margin-bottom: 10.0px; margin-left:auto;margin-right:auto; font-family: Times New Roman; width: 80%">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 32%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 12pt"><b>California</b></font><br>(State
            or other<br>jurisdiction of<br>incorporation)
          </p>
        </td>
        <td style="width: 2%">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 32%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 12pt"><b>0-28784</b></font><br>(Commission
            File
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Number)
          </p>
        </td>
        <td style="width: 2%">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 32%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 12pt"><b>77-0198182</b></font><br>(I.R.S.
            Employer<br>Identification No.)
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 32%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 32%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 32%">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="3" valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 12pt"><b>18305 E. San Jose Avenue</b></font>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 12pt"><b>City of Industry, Californi</b></font><b>a</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Address of principal executive offices)
          </p>
        </td>
        <td style="width: 2%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 32%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 12pt"><b>91748</b></font>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Zip Code)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      Registrant&#8217;s telephone number, including area code:<font style="font-size: 12pt">&#160;</font><font style="font-size: 12pt"><b>(626)&#160;839-4681</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt"><b>Not Applicable.</b></font><br>(Former
      name or former address, if changed since last report.)
    </p>
    <p style="text-indent: 60.0px; text-align: justify">
      Check the appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions (see General Instruction A.2. below):
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p style="text-indent: 60.0px; text-align: left">

    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 12%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Item 2.02</b>
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 88%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Results of Operations and Financial Condition.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-indent: 60.0px">
      Attached hereto as Exhibit 99.1 is a copy of a press release that Hot
      Topic, Inc. issued on May 19, 2010 containing certain financial
      information for the first quarter ended May 1, 2010.
    </p>
    <p style="text-indent: 60.0px">
      The information in this Item 2.02 and the corresponding exhibit are
      being furnished and shall not be deemed &quot;filed&quot; for the purposes of
      Section 18 of the Securities Exchange Act of 1934, as amended (the
      &quot;Exchange Act&quot;), or otherwise subject to the liabilities of that
      Section, nor shall it be deemed incorporated by reference in any filing
      under the Securities Act of 1933, as amended, or the Exchange Act,
      regardless of any general incorporation language in such filing.
    </p>
    <p>
      <br>

    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 12%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Item 9.01</b>
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 88%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Financial Statements and Exhibits.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="font-size: 10pt; margin-left: 30.0px; font-family: Times New Roman">
      &#160;&#160;(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits:&#160;&#160;
    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%">
      <tr>
        <td style="width: 12%">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 12%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Exhibit No.</u>
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 76%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Description</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 12%">

        </td>
        <td valign="top" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px; width: 12%">
          99.1
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 76%">
          Press Release of Hot Topic, Inc. dated May 19, 2010.
        </td>
      </tr>
    </table>
    </div>
    <p style="margin-left: 90.0px">
      <br>
      <br>
      <br>
      <br>

    </p>
    <p style="text-align: center">
      [Remainder of page intentionally left blank; signature on following
      page.]
    </p>
    <p style="margin-left: 90.0px">

    </p>
    <p style="text-indent: 60.0px; text-align: left">

    </p>
    <p style="text-align: center">

    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <font style="font-size: 10pt"><b>SIGNATURE</b></font>
    </p>
    <p style="text-indent: 60.0px">
      Pursuant to the requirements of the Securities Exchange Act of 1934, the
      Registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.
    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 49%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 1%">
          &#160;
        </td>
        <td colspan="2" valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt"><b>HOT TOPIC, INC.</b></font>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 49%">

        </td>
        <td style="width: 1%">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 49%">

        </td>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 1%">

        </td>
        <td valign="top" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left; width: 4%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            By:
          </p>
        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left; width: 46%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ JAMES MCGINTY
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 49%">

        </td>
        <td style="width: 1%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 46%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            James McGinty<br><i>Chief Financial Officer</i>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 49%">

        </td>
        <td style="width: 1%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 46%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 5.0px; text-align: left; width: 49%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Date: May 19, 2010
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 1%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 4%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 46%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-indent: 60.0px; text-align: center">

    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <b>INDEX TO EXHIBITS</b><br><br>
    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 15%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Exhibit No.</u>
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 85%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Description</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 85%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px; width: 15%">
          99.1
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 85%">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press Release issued by Hot Topic, Inc. on May 19, 2010.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-indent: 60.0px">

    </p>
    <p style="text-indent: 60.0px">

    </p>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">

    </p>
    <p>

    </p>
  </body>
</html>
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     PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
     "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">-->
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a6298059-ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2010 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-family: Times New Roman; font-size: 8pt">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Hot
      Topic, Inc. Reports 1</b></font><b><sup><font style="font-size: 12pt; font-family: Times New Roman">st</font></sup><font style="font-size: 12pt; font-family: Times New Roman">
      Quarter Loss of $0.04 Per Share</font></b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Provides
      Guidance for the 2</b></font><b><sup><font style="font-size: 12pt; font-family: Times New Roman">nd</font></sup><font style="font-size: 12pt; font-family: Times New Roman">
      Quarter of 2010</font></b>
    </p>
    <p>
      CITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--May 19, 2010--Hot Topic, Inc.
      (Nasdaq:HOTT), reported results for its first quarter of fiscal 2010 (13
      weeks) ended May 1, 2010.
    </p>
    <p>
      The company reported a net loss in the first fiscal quarter of $1.8
      million, or $0.04 per diluted share, compared to net income of $1.2
      million, or $0.03 per diluted share, for the comparable period last
      year. The first quarter of fiscal 2010 results include a loss per share
      of $0.02 related to ShockHound (<u>www.shockhound.com</u>).
    </p>
    <p>
      As previously reported, total sales for the first quarter of fiscal 2010
      decreased 7.1% to $162.6 million compared to $175.1 million for the
      first quarter last year. Total company comparable store sales decreased
      8.7% for the first quarter of fiscal 2010. A summary of the sales
      results by division (including internet) is as follows:
    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; width: 100%; font-family: Times New Roman">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="6" valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          Net Sales
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="6" valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          Comparable Store

          <p style="margin-bottom: 0px; margin-top: 0px">
            Sales % Change
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          $

          <p style="margin-bottom: 0px; margin-top: 0px">
            Millions
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          % Change

          <p style="margin-bottom: 0px; margin-top: 0px">
            To Last
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Year
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          This

          <p style="margin-bottom: 0px; margin-top: 0px">
            Year
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          Last

          <p style="margin-bottom: 0px; margin-top: 0px">
            Year
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          FIRST QUARTER:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 15.0px; text-align: left">
          Hot Topic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          119.7
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          -11.4
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          -12.3
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          9.6
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 15.0px; text-align: left">
          Torrid
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          42.9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          6.6
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          4.8
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          -1.7
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 15.0px; text-align: left">
          Total Co.
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          162.6
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          -7.1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          -8.7
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          7.1
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      At the end of the first quarter of fiscal 2010, the company operated 681
      Hot Topic stores and 156 Torrid stores compared to 679 Hot Topic stores
      and 158 Torrid stores at the end of first quarter of fiscal 2009. During
      the first quarter of fiscal 2010, the company opened one Hot Topic store
      and one Torrid store and closed one Torrid store. The company also
      remodeled or relocated five Hot Topic stores during the quarter.
    </p>
    <p>
      The company issued second quarter guidance (13 weeks ending July 31,
      2010) of a loss per share in the range of $0.07 to $0.10, as compared to
      a loss per share of $0.07 last year. This guidance is based upon a comp
      sales decline in the low-single-digit percentage range. Included in the
      guidance is a loss per share of approximately $0.02 related to
      ShockHound (<u>www.shockhound.com</u>), the company&#8217;s online music site.
    </p>
    <p>
      A conference call to discuss first quarter results, business trends,
      guidance and other matters is scheduled for May 19, 2010 at 4:30 PM
      (ET). The live conference call number is 800-260-8140, pass code &#8220;Hot
      Topic&#8221;, and will be accessible to all interested parties. It will also
      be webcast on the company&#8217;s Investor Relations website located at <u>http://investorrelations.hottopic.com</u>.
      A replay of the conference call will be available at 888-286-8010, pass
      code 46374828, for approximately two weeks. In addition, a webcast
      replay of the conference call will be available on the company&#8217;s
      Investor Relations website for approximately two weeks.
    </p>
    <p>
      Hot Topic, Inc. is a mall and web based specialty retailer operating the
      Hot Topic and Torrid concepts, as well as the e-space music concept,
      ShockHound. Hot Topic offers music/pop culture-licensed and music/pop
      culture-influenced apparel, accessories, music and gift items for young
      men and women principally between the ages of 12 and 22. Torrid offers
      apparel, lingerie, shoes and accessories designed for various lifestyles
      for plus-size females principally between the ages of 15 and 29.
      ShockHound (<u>www.shockhound.com</u>) is a genre-spanning music website
      where people of all ages can purchase MP3s and music merchandise, share
      their music interests, read the latest music news and view exclusive
      editorial content. As of May 1, 2010, the company operated 681 Hot Topic
      stores in all 50 states and Puerto Rico, 156 Torrid stores, and Internet
      stores <u>www.hottopic.com</u>, <u>www.torrid.com</u> and <u>www.shockhound.com</u>.
    </p>
    <p>
      In addition to historical information, this news release and the
      aforementioned conference call contain forward-looking statements, which
      may include statements relating to financial results, guidance, store
      operations, closures, remodels and relocations, projections and other
      financial performance. These statements involve risks and uncertainties,
      including risks and uncertainties associated with meeting expected
      financial results, fluctuations in sales and comparable store sales
      results, our online music site, music, license and fashion trends,
      competition from other retailers, uncertainties generally associated
      with specialty retailing, technology and other risks associated with
      Internet sales, the effect of negative conditions in the economic
      environment (including global capital and credit markets), the effect of
      severe weather or natural disasters, political and/or social changes or
      events that could negatively impact shopping patterns and/or mall
      traffic, relationships with mall developers and operators, relationships
      with our vendors, litigation proceedings and contingent liabilities, as
      well as other risks detailed in the company&#8217;s SEC reports including its
      Annual Report on Form 10-K for the year ended January 30, 2010 and its
      Quarterly Reports on Form 10-Q. Historical results achieved are not
      necessarily indicative of the future prospects of the company, and
      actual results or circumstances could differ materially from the
      forward-looking statements.
    </p>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="7">

        </td>
      </tr>
      <tr>
        <td colspan="10" valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            HOT TOPIC, INC.
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="10" valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            CONSOLIDATED STATEMENTS OF OPERATIONS
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="10" valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (In thousands, except per share amounts)
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="10" valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Unaudited)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          First Quarter Ended
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          May 1, 2010
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          May 2, 2009
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Net sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          162,648
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          175,125
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Cost of goods sold, including buying, distribution and occupancy
            costs
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          108,185
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          114,995
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Gross margin
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          54,463
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          60,130
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Selling, general &amp; administrative expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          57,456
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          58,278
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          (Loss) income from operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          (2,993
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          1,852
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Interest income-net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          74
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          170
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Loss) income before (benefit) provision for income taxes
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          (2,919
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          2,022
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          (Benefit) provision for income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          (1,141
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          797
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Net (loss) income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          (1,778
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          1,225
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          (Loss) earnings per share:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          (0.04
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          0.03
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          (0.04
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: left; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          0.03
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Shares used in computing (loss) earnings per share:
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          44,398
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          44,000
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 15.0px; text-align: left">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          44,398
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          44,679
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            HOT TOPIC, INC.
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            CONDENSED CONSOLIDATED BALANCE SHEETS
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (In thousands)
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Unaudited)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          May 1, 2010
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          May 2, 2009
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Current Assets:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Cash, cash equivalents and short-term investments
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          68,880
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          89,347
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Inventory
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          78,690
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          82,152
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Prepaid expenses and other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          17,758
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          14,707
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Deferred tax assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          6,053
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          6,365
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          171,381
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          192,571
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Property and equipment, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          136,058
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          150,811
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Deposits and other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          3,585
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          2,455
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Long-term investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          8,040
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          8,477
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Deferred tax assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          5,083
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          8,289
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Total assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          324,147
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          362,603
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Current Liabilities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Accounts payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          24,369
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          26,330
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Accrued liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          32,759
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          34,315
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Income taxes payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          538
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          1,003
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Total current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          57,666
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          61,648
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Deferred rent
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          31,002
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          35,581
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Deferred compensation liability
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          3,414
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          2,179
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Income taxes payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          2,380
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          1,850
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Total liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          94,462
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          101,258
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Total shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          229,685
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          261,345
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Total liabilities and shareholders&#8217; equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          324,147
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          362,603
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="6">

        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            OTHER DATA
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Dollars in thousands)
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Unaudited)
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="6">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="6" valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          Three Months Ended
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          May 1, 2010
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2" valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          May 2, 2009
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          9,885
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          9,648
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Capital expenditures
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          5,734
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          5,495
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Total company store square footage
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          1,588,700
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          1,587,600
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Hot Topic average store size
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          1,760
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          1,757
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left">
          Torrid average store size
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          2,493
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: right; padding-right: 0.0px">
          2,496
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Hot Topic, Inc., City of Industry, CA<br>Jim McGinty, CFO,
      626-839-4681 x2675
    </p>
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</TEXT>
</DOCUMENT>
</SUBMISSION>
