Retail stocks are quite the hot topic today. Speaking of which, trendy clothier Hot Topic joined the parade of August sales figures by reporting that same-store sales fell 1.1% for the month. Despite the decline, HOTT bested expectations for a decline of 2.5%. Net sales for the 4 weeks ended September 1 fell 2.5% to $71.2 million.

Investors are taking the report rather well, as the stock was last up more than 1%, having peaked near the 9 level in early action. However, the security was soundly rejected by resistance at the 9 region, and has since pulled back below short-term resistance at 8.50. HOTT has only closed 1 session above $8.50 per share since August 2. What's more, options players remain heavily optimistic toward the equity, potentially hindering the stock's advance. Currently, HOTT's Schaeffer's put/call open interest ratio (SOIR) of 0.44 ranks below 67% of all those taken during the past year.

Meanwhile, despite the better-than-expected sales figures, analysts are maintaining their bearish stance on HOTT. According to Zacks, 8 of the 12 brokerage firms offering up an opinion on the shares rate them a hold or worse.