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Gregg Appliances Q3 Sales Up 19%
Feb 14, 2007
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Gregg Appliances reported a 19.2 percent increase in total sales for the 3 months ended Dec. 31, 2006, as sales increased to U.S. $335.1 million compared to $281.2 million for the comparable prior year period. This increase in sales was attributable to the addition of seven stores during the past 12 months and a 5.6 percent comparable store sales gain for the third quarter of fiscal 2007. The comparable store sales performance was driven by gains in video, major appliances and bedding. Video sales performance was fueled by flat panel TV sales growth outpacing the sales decline in projection and tube TVs. It is anticipated that the company’s comparable store sales growth will range between the mid- to high- single digits during the fourth quarter of fiscal 2007.

Sales for the 9 months ended Dec. 31, 2006 increased 14.3 percent to $776.1 million from $679.1 million for the 9 months ended Dec. 31, 2005. This increase in sales was primarily attributable to the addition of seven stores during the past 12 months and a 2.9 percent increase in comparable stores sales during the first 9 months of fiscal 2007.
 

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