Hot Topic's net sales for the five weeks ended October 4, 2003, increased 31% to $48.9 million from net sales of $37.4 million for the five weeks ended October 5, 2002. Comparable store sales increased 9.0% from fiscal September 2002.

                                                Comparable Stores
                           Net Sales              Sales Increase

                     (millions)  % Increase   This Year    Last Year

September               $48.9        31%         9.0%         5.9%

Quarter-to-date        $110.4        31%        10.6%         5.6%

Year-to-date           $326.8        27%         6.2%         1.8%

The company also announced that as a result of the September sales performance, the company is guiding to a high-single digit comp increase for the third quarter 2003. In addition, the company is guiding to a split-adjusted earnings per share for the quarter of approximately $0.28 per diluted share, up from the previous guidance of $0.26 per diluted share.