Tuesday, February 8, 2011

hhgregg Announces Fiscal Third Quarter Operating Results

hhgregg Announces Fiscal Third Quarter Operating Results

Third Quarter Highlights

* Net sales increased 30.6% to $653.7 million
* Comparable store sales for the fiscal quarter decreased 6.2%
* Net income increased 18.4% to $26.9 million and net income per diluted share increased 15.8% to $0.66
* Company opened 4 new stores in the third quarter for a total of 42 in fiscal year 2011, and remains on track to open a total of 43 new stores in fiscal year 2011
* Company is updating its annual guidance of net income per diluted share to a range of $1.10 to $1.15 in fiscal year 2011 from a previous range of $1.15 to $1.23.

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