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Appliance and electronics retailer, hhgregg, Inc. expects third-quarter fiscal 2012 net sales of $829.5 million, up 26.9% from the $653.7 million reported for the third quarter of its fiscal year 2011. The retailer's fiscal 3Q ended Dec. 31, 2011.
Fiscal third quarter comparable store sales are estimated to be up 3.9%. Broken out by category:
• video is expected to have decreased 4.8%
• appliance expected to have increased 6.8%
• home office expected to have increased 91.4%
• the other category expected to have decreased 7.1%.
"Our recent initiatives focused on driving market share gains in the appliance and home office categories are clearly gaining traction," said Dennis May, President and CEO.
hhgregg operates 208 stores in the states of: Alabama, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Mississippi, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, and Virginia.
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