This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Hhgregg Announces Preliminary Fiscal First Quarter Sales And Results And Updates Fiscal 2013 Guidance; Company Announces Conference Call To Discuss First Quarter Operating Results

Indianapolis-based appliance and electronics retailer, hhgregg, Inc. (NYSE:HGG) today announced preliminary sales and earnings results for the fiscal first quarter ended June 30, 2012 and updated fiscal 2013 guidance. The Company also announced details of its fiscal first quarter earnings conference call.

For the first quarter of fiscal 2013, the Company estimates net sales to be approximately $490 million, an increase of approximately 13.5% as compared to the $431.5 million of net sales reported in the fiscal first quarter last year primarily due to the net addition of 30 new stores. The Company expects a net loss of between $6.2 million to $5.7 million, or $0.17 to $0.16 per diluted share, for the first quarter of fiscal 2013, compared with a net loss of $0.8 million, or $0.02 per diluted share, for the comparable prior year period. Fiscal first quarter 2013 results were negatively impacted by lower than expected revenues primarily within the video category. In addition, due to the deleveraging impact of lower sales, our advertising and general and administrative expenditures will be greater than the prior year as a percentage of net sales. Estimated net sales mix and comparable store sales percentage changes by product category for the three months ended June 30, 2012 and 2011 were as follows:
    Net Sales Mix Summary       Comparable Store Sales Summary

Three Months Ended June 30,

Three Months Ended

June 30,
2012   2011 2012   2011
Video 33 % 37 % (16.7) % (20.6) %
Appliances 49 % 44 % 6.3 % (12.6) %
Home Office (1) 8 % 7 % 8.7 % 54.6 %
Other (2) 10 % 12 % (19.7) % (10.3) %
Total 100 % 100 % (5.1) % (13.2) %


1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs