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| x | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|--------------------------------------------------------------------------------------|

|  ̈ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|------------------------------------------------------------------------------------------|

|                                                          |   |                                      |
|---------------------------------------------------------------|--------|-------------------------------------------|
| California                                                    |   | 77-0198182                                |
| (State or other jurisdiction ofincorporation or organization) |   | (I.R.S. Employer Identification No.) |
|                                                          |   |
| 18305 E. San Jose Ave.City of Industry, California            |   | 91748                                     |
| (Address of principal executive offices)                      |   | (Zip Code)                                |

|                       |   |                                 |
|----------------------------|--------|--------------------------------------|
| Title of Each Class        |   | Name of Exchange on Which Registered |
| Common Stock, no par value |   | Nasdaq Stock Market                  |

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|                                                |   |                                          |         |                                        |
|-----------------------------------------------------|--------|-----------------------------------------------|--------------|---------------------------------------------|
| Large accelerated filer   ̈ |   |                                          |    | Accelerated filer  x              |
|                                                |   |                                          |
| Non-accelerated filer     ̈ |   | (Do not check if a smaller reporting company) |    | Smaller reporting company   ̈ |

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|     |                                                                                           | Page   |
|----------|------------------------------------------------------------------------------------------------|--------|
| PART III |
| Item 10. | Directors, Executive Officers and Corporate Governance                                         | 1      |
| Item 11. | Executive Compensation                                                                         | 4      |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters | 17     |
| Item 13. | Certain Relationships and Related Transactions, and Director Independence                      | 20     |
| Item 14. | Principal Accountant Fees and Services                                                         | 20     |
|     |                                                                                           |   |
| PART IV  |
| Item 15. | Exhibits and Financial Statement Schedules                                                     | 21     |

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| Name              | Age | Position                                          |
|-------------------|-----|---------------------------------------------------|
| Lisa Harper       | 53  | Chief Executive Officer and Chairman of the Board |
| Matthew Drapkin   | 40  | Lead Independent Director                         |
| Steven Becker     | 46  | Director                                          |
| Evelyn D’An | 50  | Director                                          |
| Terri Funk Graham | 47  | Director                                          |
| W. Scott Hedrick  | 67  | Director                                          |
| John Kyees        | 66  | Director                                          |
| Andrew Schuon     | 48  | Director                                          |
| Thomas Vellios    | 57  | Director                                          |

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| Aéropostale, Inc.bebe stores, inc.The Buckle, Inc.Christopher & Banks Corporation |    | Kenneth Cole Productions, Inc.lululemon athletica inc.New York & Company, Inc.Pacific Sunwear of California, Inc. |    | rue21, inc.Urban Outfitters, Inc.The Wet Seal, Inc.Zumiez Inc. |
|--------------------------------------------------------------------------------------------|--------------|-------------------------------------------------------------------------------------------------------------------------------------------|--------------|--------------------------------------------------------------------------|

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|  Named Executive Officer                                     |    |  Percentage of Base Salary |
|-------------------------------------------------------------------|--------------|------------------------------------------------|
| Lisa Harper                                                       |         | 175%                                           |
|    Chairman and Chief Executive Officer            |         |                                           |
|                                                              |         |                                           |
| George Wehlitz                                                    |         | 35%                                            |
|        Chief Financial Officer |         |                                           |
|                                                              |         |                                           |
| Donald Hendricks,                                                 |    | 65%                                            |
| Chief Operating Officer                                           |    |                                           |
|                                                              |         |                                           |
| Mark Mizicko,                                                     |    | 65%                                            |
| Chief Planning Officer                                            |    |                                           |
|                                                              |         |                                           |
| Gerald Cook                                                       |         | 50%                                            |
| Former Chief Store Officer                                        |         |                                           |
|                                                              |         |                                           |
| James McGinty                                                     |         | 50%                                            |
| Former Chief Financial Officer                                    |         |                                           |

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|      |         | Fiscal Year 2012 Operating Income |         | Non-Equity Incentive (Bonus) Plan Percentage Payout |
|-----------|--------------|-------------------------------------------------------|--------------|----------------------------------------------------------|
| Threshold |    | $15.0 million                                    |    | 40%                                                      |
| Target    |    | $22.2 million                                    |    | 100%                                                     |
| Maximum   |    | $29.0 million                                    |    | 200%                                                     |
| Actual    |    | $30.8 million                                         |    | 200%                                                     |

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| Named Executive Officer |    | Stock Options (# of shares) |   |
|-------------------------|--------------|----------------------------------|--------|
| Lisa Harper             |    | 350,000                          |
| George Wehlitz          |         | 70,000                           |
| Donald Hendricks        |    | 100,000                          |
| Mark Mizicko            |    | 100,000                          |
| Gerald Cook             |    | 50,000                           |
| James McGinty           |    | 50,000                           |

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| Name andPrincipal Position      |   Year |   | Salary($) |    | Bonus($) |                | Stock Awards ($) (1) |                | Option Awards ($) (2) |      | Non Equity Incentive Plan Compensation ($) |                | All Other Compensation ($) (3) |    | Total ($) |
|--------------------------------------|-------------|--------|-----------|---------|----------|---------------------|---------------------------|---------------------|----------------------------|-----------|------------------------------------------------------|---------------------|------------------------------------------|---------|-----------|
| Lisa Harper (4)                      |        | 2012   |      | 669,231 |     | —        |                      | —        |                       | 1,203,020 |                                                 | 2,275,000           |                                     | 33,457  |      | 4,180,708 |
| Chairman and Chief Executive Officer |        | 2011   |      | 413,462 |     | 620,000             |                 | 97,502              |                  | 1,820,650 |                                            | —   |                                | 161,759 |      | 3,113,373 |
|                                 |        |   |      |    |     |                |                      |                |                       |      |                                                 |                |                                     |    |      |   |
| George Wehlitz                       |        | 2012   |      | 300,192 |     | 47,000         |                      | —   |                       | 275,754   |                                                 | 203,000             |                                     | 14,133  |      | 840,079 |
| Chief Financial Officer              |        |   |      |    |     |                |                      |                |                       |      |                                                 |                |                                     |    |      |   |
|                                 |        |   |      |    |     |                |                      |                |                       |      |                                                 |                |                                     |    |      |   |
| Donald Hendricks                     |        | 2012   |      | 467,308 |     | —   |                 | —   |                  | 343,720   |                                                 | 585,000             |                                     | 40,179  |      | 1,436,207 |
| Chief Operating Officer              |        | 2011   |      | 173,077 |     | 39,473              |                 | —   |                  | 655,100   |                                            | 60,527              |                                | 134,276 |      | 1,062,453 |
|                                 |        |   |      |    |     |                |                      |                |                       |      |                                                 |                |                                     |    |      |   |
| Mark Mizicko                         |        | 2012   |      | 464,423 |     | —   |                 | —   |                       | 343,720   |                                                 | 585,000             |                                     | 25,874  |      | 1,419,017 |
| Chief Planning Officer               |        | 2011   |      | 125,481 |     | 54,875              |                 | —   |                  | 557,600   |                                            | 45,125              |                                | 281,074 |      | 1,064,155 |
|                                 |        |   |      |    |     |                |                      |                |                       |      |                                                 |                |                                     |    |      |   |
| Gerald Cook (5)                      |        | 2012   |      | 538,461 |     | —   |                 | —   |                  | 171,860   |                                                 | 500,000             |                                     | 39,498  |      | 1,249,819 |
| Former Chief Store Officer           |        | 2011   |      | 589,904 |     | 600,000             |                 | —   |                  | 554,195   |                                            | —   |                                | 33,134  |      | 1,777,233 |
|                                 |        | 2010   |      | 525,000 |     | —   |                 | —   |                  | 321,140   |                                            | —   |                                | 26,269  |      | 872,409 |
|                                 |        |   |      |    |     |                |                      |                |                       |      |                                                 |                |                                     |    |      |   |
| James McGinty (5)                    |        | 2012   |      | 586,906 |     | —   |                 | —   |                       | 171,860   |                                                 | —   |                                     | 30,413  |      | 789,179 |
| Former Chief Financial Officer       |        | 2011   |      | 486,539 |     | 400,000             |                 | —   |                  | 554,195   |                                            | —   |                                | 26,882  |      | 1,467,616 |
|                                 |        | 2010   |      | 400,000 |     | —   |                 | —   |                  | 240,855   |                                            | —   |                                | 23,297  |      | 664,152 |

| (1) | These amounts are computed in accordance with FASB ASC Topic 718, based on assumptions set forth in Note 3 to the Company’s financial statements filed with the SEC on Form 10-K on March 22, 2013, and in comparable financial statement notes filed with the SEC in previous Annual Reports on Form 10-K, excluding the effect of estimated forfeitures.                                                                                                                                                                                                                                                                            |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | These amounts are computed in accordance with FASB ASC Topic 718, based on assumptions set forth in Note 3 to the Company’s financial statements filed with the SEC on Form 10-K on March 22, 2013, and in comparable financial statement notes filed with the SEC in previous Annual Reports on Form 10-K, excluding the effect of estimated forfeitures.                                                                                                                                                                                                                                                                            |
| (3) | Amounts listed in this column include use of Company-leased vehicles (including gas and maintenance), out-of-pocket medical expense reimbursement, supplemental disability insurance, and match on deferred compensation contributions. In addition, the amounts listed for Ms. Harper include dividends paid on prior stock awards.  In addition, the amounts listed for Messrs. Hendricks and Mizicko include remaining relocation expense reimbursement from their 2011 relocation in the amount of $12,550 and $6,583, respectively, as well as related reimbursement for tax expenses of $6,567.03 and $2,537, respectively. |
| (4) | Ms. Harper became our CEO on March 21, 2011. Prior to that time, Ms. Harper was a non-employee director of the company and provided consulting services to the Company from February 14, 2011, through March 20, 2011. The stock awards granted to Ms. Harper during fiscal year 2011 were compensation for Ms. Harper’s services as a consultant.                                                                                                                                                                                                                                                      |
| (5) | Messrs. Cook and McGinty resigned effective as of February 28, 2013 and February 1, 2013, respectively.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |

----

|              |         |                |         | Estimated Future PayoutsUnder Non-Equity IncentivePlan Awards (1) |         | Estimated Future PayoutsUnder Equity IncentivePlan Awards |         | All Other Stock Awards: Number of Shares of Stocks or Units (#) |   | All Other Option Awards: Number of Securities Underlying Options (#) |         | Exercise or Base price of Option Awards ($/Sh) |         | Grant Date Fair Value of Stock and Option Awards ($)(2) |
|-------------------|--------------|---------------------|--------------|-------------------------------------------------------------------|--------------|-----------------------------------------------------------|--------------|-----------------------------------------------------------------|--------|----------------------------------------------------------------------|--------------|------------------------------------------------|--------------|--------------------------------------------------------------|
|  Name        |         | Grant Date          |         | Threshold($)                                                      |         | Target($)                                                 |         | Maximum($)                                                      |   | Threshold(#)                                                         |         | Target(#)                                      |         | Maximum(#)                                                   |   |   |   |   |
| Lisa Harper (3)   |    | —   |    | 455,000                                                           |    | 1,137,500                                                 |    | 2,275,000                                                       |   | —                                                    |    | —                              |    | —                                            |   | —   |    | —   |    | —   |    | —   |
|              |         | 3/16/2012           |         | —                                                 |    | —                                         |    | —                                               |   | 100,000                                                              |         | 100,000                                        |         | 100,000                                                      |   | —   |   | 250,000 |   | 9.69 |   | 1,203,020 |
|              |         |                |         |                                                              |         |                                                      |         |                                                            |   |                                                                 |         |                                           |         |                                                         |   |   |   |   |   |   |   |   |
| George Wehlitz    |         | —   |         | 40,600                                                            |         | 101,500                                                   |         | 203,000                                                         |   | —                                                    |    | —                              |    | —                                            |   | —   |    | —   |    | —   |    | —   |
|              |         | 3/16/2012           |         | —                                                 |    | —                                         |    | —                                               |   | —                                                    |    | —                              |    | —                                            |   | —   |   | 20,000 |   | 9.69 |   | 68,744 |
|              |         | 1/21/2013           |         | —                                                 |    | —                                         |    | —                                               |   | —                                                    |    | —                              |    | —                                            |   | —   |   | 50,000 |   | 11.28 |   | 207,010 |
|              |         |                |         |                                                              |         |                                                      |         |                                                            |   |                                                                 |         |                                           |         |                                                         |   |   |   |   |   |   |   |   |
| Donald Hendricks  |    | —   |         | 117,000                                                           |         | 292,500                                                   |         | 585,000                                                         |   | —                                                    |    | —                              |    | —                                            |   | —   |    | —   |    | —   |    | —   |
|              |    | 3/16/2012           |         | —                                                 |    | —                                         |    | —                                               |   | —                                                    |    | —                              |    | —                                            |   | —   |   | 100,000 |   | 9.69 |   | 343,720 |
|              |         |                |         |                                                              |         |                                                      |         |                                                            |   |                                                                 |         |                                           |         |                                                         |   |   |   |   |   |   |   |   |
| Mark Mizicko      |    | —   |         | 117,000                                                           |         | 292,500                                                   |         | 585,000                                                         |   | —                                                    |    | —                              |    | —                                            |   | —   |    | —   |    | —   |    | —   |
|              |    | 3/16/2012           |         | —                                                 |    | —                                         |    | —                                               |   | —                                                    |    | —                              |    | —                                            |   | —   |   | 100,000 |   | 9.69 |   | 343,720 |
|              |         |                |         |                                                              |         |                                                      |         |                                                            |   |                                                                 |         |                                           |         |                                                         |   |   |   |   |   |   |   |   |
| Gerald Cook (4)   |         | —   |         | 100,000                                                           |         | 250,000                                                   |         | 500,000                                                         |   | —                                                    |    | —                              |    | —                                            |   | —   |    | —   |    | —   |    | —   |
|              |    | 3/16/2012           |         | —                                                 |    | —                                         |    | —                                               |   | —                                                    |    | —                              |    | —                                            |   | —   |   | 50,000 |   | 9.69 |   | 171,860 |
|              |         |                |         |                                                              |         |                                                      |         |                                                            |   |                                                                 |         |                                           |         |                                                         |   |   |   |   |   |   |   |   |
| James McGinty (4) |    | —   |         | 100,000                                                           |         | 250,000                                                   |         | 500,000                                                         |   | —                                                    |    | —                              |    | —                                            |   | —   |    | —   |    | —   |    | —   |
|              |         | 3/16/2012           |         | —                                                 |    | —                                         |    | —                                               |   | —                                                    |    | —                              |    | —                                            |   | —   |   | 50,000 |   | 9.69 |   | 171,860 |
|              |         |                |         |                                                              |         |                                                      |         |                                                            |   |                                                                 |         |                                           |         |                                                         |   |   |   |   |   |   |   |   |

| (1)       | The amounts shown in these columns represent grants made under the Company’s Annual Bonus Plan.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  (2) | These amounts are computed in accordance with FASB ASC Topic 718, based on assumptions set forth in Note 3 to the Company’s financial statements filed with the SEC on Form 10-K on March 22, 2013, excluding the effect of estimated forfeitures.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |
|  (3) | Ms. Harper’s March 16, 2012, grant reported under the Equity Incentive Plan Award column is subject to a vesting condition that one quarter of the option grant vests upon certification by the Compensation Committee of the Board of Directors that the Company's earnings per share equals or exceeds $0.32 for fiscal year 2012.  Upon certification by the Compensation Committee of the Board of Directors, such shares will continue to vest 6.25% each quarter thereafter until fully vested four years from the date of grant. In the event the Compensation Committee of the Board of Directors has not certified that the Company's earnings per share equals or exceeds $0.32 for fiscal year 2012 then the option will terminate in full. |   |
| (4)       | Mr. Cook resigned, effective as of February 28, 2013 and therefore the stock option granted March 16, 2012 did not vest.  Pursuant to the Third Amendment to Mr. Cook’s Amended and Restated Employment Agreement, he is eligible to participate in the non-equity incentive plan of the company.  Effective  February 1, 2013, Mr. McGinty resigned from the company Pursuant to the Third and Fourth Amendments to Mr. McGinty’s Amended and Restated Employment Agreement, Mr. McGinty was ineligible for the non-equity incentive plan award and the equity incentive award did not vest.                                                                                                                                          |   |

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|               |   |       | Option Awards (1) |                                                               |
|--------------------|--------|------------|-------------------|--------------------------------------------------------------------|
| Name               |   | Grant Date |              | Number of Securities Underlying Unexercised Options Exercisable(#) |   | Number of Securities Underlying Unexercised Options Unexercisable(#) |   | Option Exercise Price ($) |   | Option Expiration Date |   |
| Lisa Harper (2)    |   | 6/10/2008  |              | 22,934                                                             |   | —   |   | 6.02 |    | 6/10/2018 |   |
|               |   | 6/9/2009   |              | 14,106                                                             |   | 2,016 |    | 7.54 |    | 6/9/2019 |   |
|               |   | 6/8/2010   |              | 19,793                                                             |   | 11,876 |    | 4.88 |    | 6/8/2020 |   |
|               |   | 3/30/2011  |              | 458,333                                                            |   | 41,667 |    | 5.77 |    | 3/30/2021 |   |
|               |   | 3/30/2011  |              | —                                                  |   | 500,000 |    | 5.77 |    | 3/30/2021 |   |
|               |   | 3/16/2012  |              | —                                                  |   | 250,000 |   | 9.69 |    | 3/16/2022 |   |
|               |   | 3/16/2012  |              | —                                                  |   | 100,000 |   | 9.69 |    | 3/16/2022 |   |
|               |   |       |              |                                                               |   |   |   |   |   |   |   |
| George Wehlitz (3) |   | 4/7/2008   |              | 10,000                                                             |   | —   |   | 4.56 |   | 4/7/2018 |   |
|               |   | 3/18/2009  |              | 9,375                                                              |   | 625  |   | 9.56 |   | 3/18/2019 |   |
|               |   | 3/17/2010  |              | 10,312                                                             |   | 4,688 |   | 6.37 |   | 3/17/2020 |   |
|               |   | 3/30/2011  |              | 10,937                                                             |   | 14,063 |   | 5.77 |   | 3/30/2021 |   |
|               |   | 3/16/2012  |              | —                                                  |   | 20,000 |   | 9.69 |   | 3/16/2022 |   |
|               |   | 1/21/2013  |              | —                                                  |   | 50,000 |   | 11.28 |   | 1/21/2021 |   |
|               |   |       |              |                                                               |   |   |   |   |   |   |   |
| Donald Hendricks   |   | 8/29/2011  |              | 62,500                                                        |   | 137,500 |    | 8.60 |    | 8/29/2021 |   |
|               |   | 3/16/2012  |              | —                                                  |    | 100,000 |   | 9.69 |   | 3/16/2022 |   |
|               |   |       |              |                                                               |   |   |   |   |   |   |   |
| Mark Mizicko       |   | 10/3/2011  |              | 62,500                                                        |   | 137,500 |    | 7.32 |    | 10/3/2021 |   |
|               |   | 3/16/2012  |              | —                                                  |    | 100,000 |   | 9.69 |   | 3/16/2022 |   |
|               |   |       |              |                                                               |   |   |   |   |   |   |   |
| Gerald Cook   |   | 3/20/2003  |              | 75,001                                                             |   | —   |    | 15.61 |    | 3/20/2013 |   |
|               |   | 3/18/2005  |              | 85,000                                                             |   | —   |    | 21.24 |    | 3/18/2015 |   |
|               |   | 3/17/2006  |              | 50,000                                                             |   | —   |    | 13.90 |    | 3/17/2016 |   |
|               |   | 3/23/2007  |              | 78,000                                                             |   | —   |    | 11.31 |    | 3/23/2017 |   |
|               |   | 3/18/2009  |              | —                                                  |   | 6,250 |    | 9.56 |    | 3/18/2019 |   |
|               |   | 3/17/2010  |              | —                                                  |   | 31,250 |    | 6.37 |    | 3/17/2020 |   |
|               |   | 3/30/2011  |              | —                                                  |   | 84,375 |    | 5.77 |    | 3/30/2021 |   |
|               |   | 3/30/2011  |              | —                                                  |   | 56,250 |    | 5.77 |    | 3/30/2021 |   |
|               |   | 3/16/2012  |              | —                                                  |   | 50,000 |   | 9.69 |   | 3/16/2022 |   |
|               |   |       |              |                                                               |   |   |   |   |   |   |   |
|               |   |       |              |                                                               |   |   |   |   |   |   |   |
| James McGinty |   | 3/20/2003  |              | 45,001                                                             |   | —   |    | 15.61 |    | 3/20/2013 |   |
|               |   | 3/18/2005  |              | 60,000                                                             |   | —   |    | 21.24 |    | 3/18/2015 |   |
|               |   | 3/17/2006  |              | 45,000                                                             |   | —   |    | 13.90 |    | 3/17/2016 |   |
|               |   | 3/23/2007  |              | 75,000                                                             |   | —   |    | 11.31 |    | 3/23/2017 |   |
|               |   | 3/26/2008  |              | 26,553                                                             |   | —   |    | 4.75 |    | 3/26/2018 |   |
|               |   | 3/18/2009  |              | 70,312                                                             |   | —   |    | 9.56 |    | 3/18/2019 |   |
|               |   | 3/17/2010  |              | 51,562                                                             |   | —   |    | 6.37 |    | 3/17/2020 |   |
|               |   | 3/30/2011  |              | 65,625                                                             |   | —   |    | 5.77 |    | 3/30/2021 |   |
|               |   | 3/30/2011  |              | 43,750                                                             |   | —   |    | 5.77 |    | 3/30/2021 |   |
|               |   |       |              |                                                               |   |   |   |   |   |   |   |

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| (1)       | Except as described in footnotes 2 and 3 hereof, these options become exercisable over a four year period with 25% vesting one year from the date of grant and 6.25% of the remaining shares vesting quarterly thereafter.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  (2) | In March 2012, Ms. Harper was granted two separate options to purchase shares of our common stock. The first option was granted for 250,000 shares and is subject to vesting over four years. The second option was granted for 100,000 shares and vest over four years only if the compensation committee has certified that the Company’s earnings per share for fiscal year 2012 met or exceeded $0.32 per share.  On March 30, 2011, Ms. Harper was granted two options to purchase 500,000 shares each, with one vesting in equal monthly installments over a two-year period and the other subject to a vesting condition that for 90 days the weighted average stock price of the Company’s common stock be at least $11.54 (the “Vesting Condition”), an amount which is twice the closing price per share on the date the option was granted. All grants to Ms. Harper made prior to February 14, 2011, were made for her services as a non-employee director of the Company. |
|  (3) | Mr. Wehlitz’s March 30, 2011 option grant vests in full the earlier to occur of four years from the grant date or the Vesting Condition.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |

|          |         | Option Awards                                       |         | Stock Awards                            |
|---------------|--------------|----------------------------------------------------------|--------------|----------------------------------------------|
| Name          |    | Number of Shares Acquired on Exercise (#) |         | Value Realized on Exercise($) |   | Number of Shares Acquired on Vesting (#) |   | Value Realized on Vesting ($) |
| Lisa Harper   |    | —                                        |    |                                         |   | 17,568 |   | 142,828 |   |   |
| Gerald Cook   |    | 346,875                                                  |    | 1,254,759                                    |    | —   |   | —   |   |   |
| James McGinty |         | 48,447                                                   |         | 268,992                                      |   | —   |   | —   |   |   |

| Name             |   | Executive Contributions in Last FY($) (1) |         | Registrant Contributions in Last FY($) |         |  Aggregate Earnings in Last FY ($) |   | Aggregate Withdrawals / Distributions($) |         |  Aggregate Balance at Last FY($) |   |
|------------------|--------|-------------------------------------------|--------------|----------------------------------------|--------------|----------------------------------------------|--------|------------------------------------------|--------------|---------------------------------------|--------|
| George Wehlitz   |   | 25,410                                    |         | 5,015                                  |         | 18,215                                       |   | —                        |    | 158,354                               |   |
| Donald Hendricks |   | 18,000                                    |    | 5,000                                  |    | (54.00)                                      |   | —                        |    | 25,023                                |   |
| Mark Mizicko     |   | 1,385                                     |    | 692                                    |    | 27.00                                        |   | —                        |    | 2,104                                 |   |
| Gerald Cook      |   | 41,538                                    |    | 4,846                                  |    | 46,328                                       |   | —                        |    | 542,448                               |
| James McGinty    |   | 61,153                                    |    | 5,000                                  |    | 52,180                                       |   | —                        |    | 473,794                               |

| (1) | The contribution amounts reported as Executive Contributions are reported in the “Salary” column and the contribution amounts reported as Registrant Contributions are reported in the “All Other Compensation” column of the Summary Compensation Table. All amounts reported as Aggregate Balance were included in Summary Compensation Tables for previous years to the extent the named executive officer was named in such table and the amounts were so required to be reported in such tables. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Name             |         | Benefit                    |         | Termination Without Cause($) |         | Change in Control($) (1)        |
|------------------|--------------|----------------------------|--------------|------------------------------|--------------|---------------------------------|
| Lisa Harper      |    | Cash Severance        |    | 1,300,000                    |    |   —   |
|             |    | Benefits Continuation |    | 29,875                       |    | —               |
|             |    | Option Acceleration        |    | 652,575                      |    | 652,575               |
|             |         |                       |         |                         |         |                            |
| Donald Hendricks |    | Cash Severance             |    | 225,000                      |    | —               |
|             |    | Benefits Continuation      |    | 6,926                        |    | —               |
|             |    | Option Acceleration        |    | —            |    | 482,375                         |
|             |         |                       |         |                         |         |                            |
| Mark Mizicko     |    | Cash Severance             |    | 225,000                      |    | —               |
|             |    | Benefits Continuation      |    | 4,979                        |    | —               |
|             |    | Option Acceleration        |    | —            |    | 658,375                         |
|             |         |                       |         |                         |         |                            |
| Gerald Cook (2)  |    | Cash Compensation          |    | 35,616                       |    | —               |
|             |    | Bonus Payment              |    | 500,000                      |    | —               |
|             |    | Benefits Continuation      |    | —            |    | —               |
|             |    | Option Acceleration        |    | —            |    | —               |

----

| (1) | These amounts represent the difference between the market price of our common stock on February 1, 2013 (the last trading day of fiscal 2012) and the exercise price of the options which would become exercisable upon an employment termination following a “change of control” to the extent the market price exceeded the exercise price, without regard to the application of any reduction or excise taxes pursuant to provisions relating to Sections 280G and 4999 of the Internal Revenue Code.  For the value of severance and change in control benefits that will be payable in the event of the consummation of the Agreement and Plan of Merger, dated as of March 6, 2013, among 212F Holdings LLC, a Delaware limited liability company (“Parent”), HT Merger Sub Inc., a California corporation and a wholly owned subsidiary of Parent (“Merger Sub”) and Hot Topic (the “Merger Agreement”), under which Merger Sub will merge with and into Hot Topic, with Hot Topic surviving the merger (the “Merger”), see the definitive proxy filed with the SEC on May 10, 2013.  |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Pursuant to the Third Amendment to the Amended and Restated Employment Agreement between the Company and Mr. Cook, Mr. Cook waived his rights to receive any severance upon his earlier termination, however he was entitled to receive his regular base pay through February 28, 2013.  Further, he was entitled to any bonus amounts earned, prorated through his date of termination.  As Mr. Cook was employed by the Company on the last day of the fiscal year, he was entitled to a full bonus payout.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |

| Name               |         | Fees Earned or Paid in Cash($) |         | Stock Awards($) (1) |         | Option Awards($) (1) |         | All Other Compensation($) (2) |         | Total($)  |
|--------------------|--------------|--------------------------------|--------------|---------------------|--------------|----------------------|--------------|-------------------------------|--------------|----------------|
| Steven Becker      |    | 58,000                         |    | 25,000              |    | 60,001               |    | 2,661                         |    | 145,662        |
| Evelyn D’An  |    | 80,875                         |    | 25,000              |    | 60,001               |    | 6,502                         |    | 172,378        |
| Matthew Drapkin    |    | 108,500                        |    | 25,000              |    | 60,001               |    | 2,661                         |    | 196,162        |
| Terri Funk Graham  |         | 45,000                         |         | 25,000              |         | 60,001               |         | 630                           |         | 130,631        |
| W. Scott Hedrick   |    | 70,500                         |    | 25,000              |    | 60,001               |    | 9,004                         |    | 164,505        |
| John Kyees         |         | 73,500                         |         | 30,222              |         | 72,784               |         | 795                           |         | 177,301        |
| Andrew Schuon      |    | 63,000                         |    | 25,000              |    | 60,001               |    | 9,567                         |    | 157,568        |
| Thomas Vellios     |    | 60,500                         |    | 25,000              |    | 60,001               |    | 5,788                         |    | 151,289        |
| Bruce Quinnell (3) |    | 32,000                         |    | —   |    | —    |    | 2,620                         |    | 34,620         |
|               |         |                           |         |                |         |                 |         |                          |         |           |

| (1) | The amounts are computed in accordance with FASB ASC Topic 718, based on assumptions set forth in Note 3 to the Company’s financial statements filed with the SEC on Form 10-K on March 22, 2013, excluding the effect of estimated forfeitures. The following table sets forth the number of outstanding equity awards held by each of our Non-Employee Directors as of the end of fiscal year 2012. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Aggregate Number of Equity Awards Outstanding at End of Fiscal Year 2012 |
|--------------------------------------------------------------------------|
| Director                                                                 |    | Stock Awards |   |    | Option Awards |   |
| Steven Becker                                                            |    | 8,971 |    |    | 58,787 |    |
| Evelyn D’An                                                        |    | 20,974 |    |    | 110,911 |    |
| Matthew Drapkin                                                          |    | 8,971 |    |    | 58,787 |    |
| Terri F. Graham                                                          |   | 2,626  |   |   | 16,350 |   |
| W. Scott Hedrick                                                         |    | 28,793 |    |    | 157,424 |    |
| John Kyees                                                               |   | 3,141  |   |   | 19,904 |   |
| Andrew Schuon                                                            |    | 30,554 |    |    | 96,493 |    |
| Thomas Vellios                                                           |    | 18,744 |    |    | 109,747 |    |
| Bruce Quinnell                                                           |    | 32,757 |    |    | —   |    |

| (2) | This column reflects dividends paid in fiscal year 2012 on restricted stock awards granted to our Non-Employee Directors.  For Mr. Quinnell, the amount reported reflects dividends paid through his last date of service. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | Mr. Quinnell did not stand for re-election at the 2012 Annual Meeting of Shareholders, therefore, his services as a director of the Company terminated effective as of June 5, 2012.                                                 |   |

----

| Description                                                              | Annual Retainer     |   | Per Meeting Attendance Fee |
|--------------------------------------------------------------------------|---------------------|--------|--------------------------------------|
| For Board Service:                                                       |                |   |                                 |
| Lead Independent Director                                                | $20,000             |   | $10,000                              |
| Other Non-Employee Directors                                             | —   |   | $10,000                              |
| Telephonic meetings (all Non-Employee Directors)                         | —   |   | $2,000                               |
|                                                                     |                |   |                                 |
| For Committee Service:                                                   |                |   |                                 |
| Chair – Audit Committee                                            | $20,000             |   | $2,500                               |
| Other Non-Employee Directors – Audit Committee                     | —   |   | $1,500                               |
|                                                                     |                |   |                                 |
| Chair – Compensation Committee                                     | $10,000             |   | $2,500                               |
| Other Non-Employee Directors – Compensation Committee              | —   |   | $1,000                               |
|                                                                     |                |   |                                 |
| Chair – Governance and Nominating Committee                        | $5,000              |   | $2,500                               |
| Other Non-Employee Directors – Governance and Nominating Committee | —   |   | $1,000                               |

----

| ITEM 12. | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED SHAREHOLDER MATTERS |
|---------------|------------------------------------------------------------------------------------------------|

|                                                   | Number of securities to be issued upon exercise of  outstandingoptions, warrants and rights(a) |         | Weighted-average exercise price of outstanding options,warrants and  rights(b) |         | Number of securities remaining available for issuance under equity  compensation plans (excluding securities reflected in column (a))(c) |         |
|--------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------|--------------|---------------------------------------------------------------------------------------------------------|--------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|
| Equity compensation plans approved by shareholders (1) | 6,219,394                                                                                                                                   |    | 9.37                                                                                                    |    | 4,863,049                                                                                                                                                                                  |    |

| (1) | Includes securities granted pursuant to our 2012 Incentive Plan approved by our shareholders in 2012, our 2006 Incentive Plan approved by our shareholders in 2006, and our 1996 Non-Employee Directors’ Stock Option Plan, our Employee Stock Purchase Plan, and our 1996 Equity Incentive Plan, all approved by our shareholders in 1996. The shares reported in column (c) include 652,254 shares attributable to our Employee Stock Purchase Plan. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Name and Address of Beneficial Owner (1)                                                                                                                          | Number of Shares Beneficially Owned | Percentage of Shares Beneficially Owned |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------|-------------------------------------------------------------|
| BlackRock, Inc. (2)    40 East 52nd Street    New York, New York 10022                                                         | 3,809,940                                          | 9.4%                                                        |   |
| Becker Drapkin Management, L.P. and affiliated entities (3)    500 Crescent Court, Suite 230    Dallas, TX 75201               | 3,563,102                                          | 8.8%                                                        |   |
| The Vanguard Group, Inc. (4)    100 Vanguard Blvd.    Malvern, PA 19355                                                        | 2,786,292                                     | 6.8%                                                   |   |
| T. Rowe Price Associates, Inc. (5)    100 East Pratt Street    Baltimore, MD 21202                                             | 2,356,300                                          | 5.8%                                                        |   |
| Dimensional Fund Advisors LP (6)    Palisades West, Building One    6300 Bee Cave Road    Austin, TX 78746 | 2,233,767                                          | 5.5%                                                        |   |

| Steven Becker (3)(7)                                                      | 3,599,849 | 8.8%  |   |
|---------------------------------------------------------------------------|-----------|-------|--------|
| Matthew Drapkin (3)(8)                                                    | 3,599,849 | 8.8%  |   |
| Lisa Harper (9)                                                           | 1,202,342 | 2.9%  |   |
| W. Scott Hedrick (10)                                                     | 174,700   | *     |   |
| Gerald Cook (11)                                                          | 151,285   | *     |   |
| James McGinty (12)                                                        | 141,424   | *     |   |
| Donald Hendricks (13)                                                     | 119,849   | *     |   |
| Evelyn D’An (14)                                                    | 110,400   | *     |   |
| Mark Mizicko (15)                                                         | 108,829   | *     |   |
| Andrew Schuon (16)                                                        | 106,968   | *     |   |
| Thomas Vellios (17)                                                       | 96,974    | *     |   |
| George Wehlitz (18)                                                       | 81,302    | *     |   |
| John Kyees (19)                                                           | 8,338     | *     |   |
| Terri Funk Graham (20)                                                    | 6,713     | *     |   |
| All current executive officers and directors as a group (12 persons) (21) | 5,653,001 | 13.3% |   |

|  * | Less than one percent.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)     | Unless otherwise indicated, the address of all the owners is: c/o Hot Topic, Inc., 18305 E. San Jose Avenue, City of Industry, California 91748.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| (2)     | Based on Schedule 13G/A filed by BlackRock, Inc. on January 31, 2013.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| (3)     | Based on Schedule 13D/A filed by Becker Drapkin Management, L.P. and affiliated entities (the “Reporting Persons”) on September 14, 2012. Includes (a) 934,807 shares directly beneficially owned by Becker Drapkin Partners (QP), L.P. (“QP Fund”), (b) 132,443 shares directly beneficially owned by Becker Drapkin Partners, L.P. (“LP Fund”), (c) 1,318,177 shares directly beneficially owned by BD Partners I, L.P. (“BD Partners I”) and (d) 1,177,675 shares directly beneficially owned by a managed account (“Managed Account”). Becker Drapkin Management, L.P. (“BD Management”) is the general partner of, and the investment manager for, each of QP Fund, LP Fund and BD Partners I and provides investment advisory services for the Managed Account. BD Management may be deemed to beneficially own any shares beneficially owned by QP Fund, LP Fund, BD Partners I and the Managed Account. BC Advisors, LLC (“BC Advisors”) is the general partner of BD Management and may be deemed to beneficially own any shares beneficially owned by BD Management. Steven Becker and Matthew Drapkin are the co-managing members of BC Advisors and may be deemed to beneficially own any shares beneficially owned by BC Advisors. Each of the Reporting Persons disclaims beneficial ownership of such shares except to the extent of the pecuniary interest of such Reporting Person in such shares.  |

----

| (4)        | Based on Schedule 13G/A filed by The Vanguard Group, Inc. on February 11, 2013.                                                                                                                                                                                                                                                                                                                                                                  |
|------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (5)        | Based on Schedule 13G/A filed by T. Rowe Price Associates, Inc. on February 13, 2013. T. Rowe Price Associates, Inc. disclaims beneficial ownership of the shares held by T. Rowe Price Associates, Inc.                                                                                                                                                                                                                                         |
| (6)        | Based on Schedule 13G/A filed by Dimensional Fund Advisors LP on February 11, 2013. Dimensional Fund Advisors LP is deemed to have beneficial ownership of such shares based on comingled group trusts and separate accounts (collectively, the “Funds”) that are managed by Dimensional Fund Advisors LP or its subsidiaries. All shares are owned by the Funds and Dimensional disclaims beneficial ownership of all such shares.  |
| (7)        | Includes 27,776 shares subject to options exercisable within 60 days of April 30, 2013. Also includes 2,626 shares subject to a right of repurchase in favor of the company until June 5, 2013.                                                                                                                                                                                                                                                  |
| (8)        | Includes 27,776 shares subject to options exercisable within 60 days of April 30, 2013. Also includes 2,626 shares subject to a right of repurchase in favor of the company until June 5, 2013.                                                                                                                                                                                                                                                  |
|  (9)  | Includes 1,172,182 shares subject to options exercisable within 60 days of April 30, 2013 of which 500,000 option shares are subject to a performance-based vesting condition which can occur within 60 days of April 30, 2013.                                                                                                                                                                                                                       |
|  (10) | Includes 10,000 shares held by the Hedrick Children’s Irrevocable Trust DTD 12-26-92. Also includes 125,907 shares subject to options exercisable within 60 days of April 30, 2013 and 2,626 shares subject to a right of repurchase in favor of the company until June 5, 2013.                                                                                                                                                           |
|  (11) | Mr. Cook was our Chief Store Officer until February 28, 2013.  He is no longer employed by the Company.  Includes 135,000 shares subject to options exercisable within 60 days of April 30, 2013.                                                                                                                                                                                                                                 |
|  (12) | Mr. McGinty was our Chief Financial Officer until February 1, 2013.  He is no longer employed by the Company. Includes 105,000 shares subject to options exercisable within 60 days of April 30, 2013.                                                                                                                                                                                                                                      |
|  (13) | Includes 118,750 shares subject to options exercisable within 60 days of April 30, 2013.                                                                                                                                                                                                                                                                                                                                                              |
|  (14) | Includes 79,394 shares subject to options exercisable within 60 days of April 30, 2013. Also includes 2,626 shares subject to a right of repurchase in favor of the company until June 5, 2013.                                                                                                                                                                                                                                                  |
|  (15) | Includes 106,250 shares subject to options exercisable within 60 days of April 30, 2013.                                                                                                                                                                                                                                                                                                                                                              |
|  (16) | Includes 64,976 shares subject to options exercisable within 60 days of April 30, 2013. Also includes 2,626 shares subject to a right of repurchase in favor of the company until June 5, 2013.                                                                                                                                                                                                                                                  |
|  (17) | Includes 78,230 shares subject to options exercisable within 60 days of April 30, 2013. Also includes 2,626 shares subject to a right of repurchase in favor of the company until June 5, 2013.                                                                                                                                                                                                                                                  |
| (18)       | Includes 63,437 shares subject to options exercisable within 60 days of April 30, 2013 of which 12,500 option shares are subject to a performance-based vesting condition which can occur within 60 days of April 30, 2013.                                                                                                                                                                                                                           |
|  (19) | Includes 5,197 shares subject to options exercisable within 60 days of April 30, 2013. Also includes 2,626 shares subject to a right of repurchase in favor of the company until June 5, 2013.                                                                                                                                                                                                                                                   |
|  (20) | Includes 4,087 shares subject to options exercisable within 60 days of April 30, 2013. Also includes 2,626 shares subject to a right of repurchase in favor of the company until June 5, 2013.                                                                                                                                                                                                                                                   |
|  (21) | Includes 3,563,102 shares beneficially owned by Messrs. Becker and Drapkin as co-managing members of BC Advisors, 1,873,962 shares subject to options exercisable within 60 days of April 30, 2013, and 21,008 shares subject to a right of repurchase in favor of the company until June 5, 2013.                                                                                                                                                    |

----

| ITEM 13. | CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE |
|---------------|---------------------------------------------------------------------------|

----

| (b) | Exhibits |
|-----|----------|

|          |   |                                                                                                                                                                         |
|---------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ExhibitNumber |   | Description of Document                                                                                                                                                      |   |
|          |   |                                                                                                                                                                         |
| 31.1          |   | Certification, dated May 28, 2013 of Registrant’s Chief Executive Officer required by Section 302 of the Sarbanes-Oxley Act of 2002.                              |   |
|          |   |                                                                                                                                                                         |
| 31.2          |   | Certification, dated May 28, 2013, of Registrant’s Chief Financial Officer required by Section 302 of the Sarbanes-Oxley Act of 2002.                             |   |
|          |   |                                                                                                                                                                         |
| 32.1          |   | Certifications, dated May 28, 2013 of Registrant’s Chief Executive Officer and Chief Financial Officer required by Section 906 of the Sarbanes-Oxley Act of 2002. |   |

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|            |                                                                                          |   |   |
|-----------------|-----------------------------------------------------------------------------------------------|--------|--------|
| HOT TOPIC, INC. |
|            |                                                                                          |   |
| By:             |   /s/    Lisa Harper         |   |
|            | Lisa Harper                                                                                   |   |
|            | Chairman & Chief Executive Officer                                                        |   |