Tuesday, November 9, 2010

hhgregg Announces Fiscal Second Quarter Operating Results

hhgregg Announces Fiscal Second Quarter Operating Results

Second Quarter Highlights

* Net sales increased 44.8% to $480.9 million
* Comparable store sales for the fiscal quarter decreased 1.5% primarily driven by a 3.9% decrease in the appliance category partially offset by a 1.6% increase in the video category
* Net income decreased 20.4% to $3.9 million and net income per diluted share decreased 23.1% to $0.10
* Company opened 12 new stores in the quarter and remains on track to open a total of 43 new stores in fiscal year 2011
* Company updates its annual guidance of net income per diluted share to $1.30 to $1.45 from previous guidance of net income per diluted share of $1.35 to $1.45

See Full Release Here

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