Hot Topic that targets goth inspired emo kids have suffered from a deep decline in sales in the first quarter. Why? trends are changing.

According to the LA Times, “The company, which sells apparel and accessories, posted a loss of $1.4 million, or 3 cents a share, in the quarter ended April 29″.

“The retailer has struggled as fashion trends have turned to more preppy styles rather than the rock-music-inspired and gothic designs that Hot Topic carries.”

In their 23 year existence, after releasing 9 studio albums, 9 number one rock singles, selling over 50 million copies worldwide, and being recognized as icons in rock music, The Red Hot Chili Peppers have hit a new milestone in their career selling 442,500 copies of Stadium Arcadium their first week, giving them their first number one album in the US. As the best and most diverse artist coming out of the 1980s Alternative Rock movement in LA, The Red Hot Chili Peppers were the precursor to multiple movements in rock, influencing bands from Korn and Rage Against The Machine to No Doubt and Incubus. With each member of their current line up being considered a master of their craft, The Red Hot Chili Peppers show no signs of slowing down and will surely see more great weeks ahead.

Red Hot Chili Peppers – 442,469
Nick Lachey – 171,657
James Blunt – 70,856
Godsmack – 50,981
Jewel – 43,276
Nickelback – 41,311
Taking Back Sunday – 33,436
Panic! At The Disco – 29,395
Fray – 28,226
Blue October – 18,432
Arctic Monkeys – 7,409
Shinedown – 7,048

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James Blunt jumped 22% from 58,153 to 70,856, this guy is on the roll. The Red Hots had a great opening week, BUT!….The double disc Stadium Arcadium isn’t as strong as the previous efforts. Regardless, still need to give the RHCP props because they are well..RHCP. Arctic Monkeys continue to plummet. Panic! At The Disco (pictured) jumps from 27k to 29K with a total of 585+.

According to Hits, Richard Branson sold its stake in V2 Records to Morgan Stanley. Branson, an English entrepreneur best known for Virgin supposedly chose its name because a female friend involved in setting up the initial record label commented “We’re all virgins at business“. Branson who is known for his outlandish media events has signed such groups as The Sex Pistols and Culture Club. Branson is currently working a new space tourism company, Virgin Galactic, which will license the technology behind SpaceShipOne to take passengers into suborbital space.

We hear Branson is working on a compilation called “See You On the Moon”……….

Former Wind-Up artist Alterbridge is currently in negotiations with several majors. Expect a deal to be made rather soon. For more information email Jeff Cameron & Randy Dease.Â

Indie critic’s darling Jeff Klein is currently working on new demos for his third album, recently free from his One Little Indian recording contract, he’s currently entertaining offers from several labels. Klein will be on tour in the U.S. in May & June as the support act for The Twilight Singers. He’s toured with Joseph Arthur, The Honorary Title & People In Planes in 2006. For more information contact Keith Hagan at 212-334-6116. Â

KOAR Higher Learning artist My Favorite Highway is heading to NYC and will be performing private showcases for majors. For more information email Dan Friedman