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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Hhgregg Management Discusses Q1 2013 Results - Earnings Call Transcript

What we are disappointed in our results, we are as committed as ever to returning the business to positive comparable store sales.

The video industry remains challenged, with industry ASPs continuing to fall. As we continue to balance traffic growth and profitability in our Video business, we made progress in slowing the decline in gross margins, but at the expense of top line and market share.

While we believe that manufacturers attempts to slow the ASP declines and add profitability back to the category through universal pricing policies and better enforcement among advertised pricing will help profitability in future periods. The broader effect of weak industry demands is expected to continue the way on the category for some time.

In the appliance category, we remain very pleased with the results of our initiatives. We are continuing to gain market share and are becoming the appliance retailer of choice in our markets.

Our growth in the category remains robust, and as likely that appliance will grow to be our largest product category this fiscal year.

We are also pleased with the stability of gross margins in this category, and believe the appliance business is an attractive business that will continue to drive our business over time.

While the computing and mobile phone industry have negatively impacted as consumers defer purchases until the upcoming product launches by Microsoft and Apple, we were still able to generate positive comparable store sales in this product category.

We have fully rolled out our new IT product display and believe that they will help us build momentum in the back half of this year as new products are rolled out.

We remain committed to our core value of competing on price and differentiating ourselves through service.

While we define big-box consumer products today as appliances and large-screen television, we continue to test new products that set this definition.

3 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,985.45 +2.86 0.02%
S&P 500 1,975.19 -3.72 -0.19%
NASDAQ 4,446.7310 +1.8220 0.04%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs