Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

hhgregg Appliance Comps Up, Overall Comps Down
Aug 2, 2012
 Printable format
 Email this Article
 Search

Indianapolis-based appliance and electronics retailer hhgregg, Inc., had a net loss of $5.7 million in the three months ending June 30, 2012, compared to a net loss of $0.8 million in the same quarter a year ago. The quarter was the first quarter of the retailer's fiscal year.

But comparable store sales of appliances were up 6.3% in the quarter. Computing and mobile phones were also up, 8.75. Video products were down 16.7% and Other products (which includes audio, furniture and accessories, mattresses, and personal electronics) were down 19.7%. Store sales overall were down 5.1%.

The increased net loss resulted from a comparable store sales decrease of 5.1% and increased advertising and SG&A expenses, offset by the addition of 30 stores.

"Our first fiscal quarter proved to be more challenging than anticipated with sales and earnings coming in below our original expectations," said President and CEO Dennis May. "We reacted to the sales shortfall by making adjustments to our cost structure. We expect subsequent quarters to benefit from our cost cutting measures."

Back to Daily News

 

Daily News

...........................................................

Nov 26, 2014: Hamilton Beach 3Q income down slightly

Nov 26, 2014: LG's sales of Inverter Linear Compressor refrigerators top 10 million

Nov 25, 2014: Robotics Exhibits Grow 25% at 2015 CES

Nov 25, 2014: Index shows HVAC/R contractors more positive than last year

Nov 25, 2014: Consumer Confidence Index Declines

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows