Hot Topic to close stores

Between 40 and 50 under-performing locations will be shuttered and 14 percent of the home office and field management positions will be eliminated. The City of Industry-based retailer has been facing sluggish sales, falling profits and lower margins - never a great combination (earnings plunged 93 percent in the just-reported third quarter). For a time, Hot Topic had been scoring well by featuring "Twilight"-related merchandise, but subsequent sequels haven't been nearly as lucrative. (Business Journal)