Hhgregg Announces Preliminary Third Fiscal Quarter Sales And Earnings Results And Updates Fiscal 2013 Guidance

Mr. Aguilar continued, “We effectively managed our inventory levels during the quarter, with our average inventory per store down 3.8% compared to the prior year. We continue to maintain a strong liquidity position and had no outstanding debt at quarter end. We continue to believe the Company is well positioned to execute on its strategies.”

Conference Call to Discuss Full Operating Results for the Third Fiscal Quarter 2013

The Company will announce full operating results for its third fiscal quarter ended December 31, 2012 on Thursday, January 31, 2013. A conference call to discuss the operating results is scheduled to begin at 9:00 a.m. EST on the same day. Interested investors and other parties may listen to a simultaneous webcast of the conference call by logging onto the Company’s investor relations page at www.hhgregg.com. The call can also be accessed over the phone by dialing [phone]. Callers should reference the hhgregg third quarter earnings call. A replay of the earnings call will be available on the Company’s website through February 28, 2013.

About hhgregg

hhgregg is a specialty retailer of home appliances, televisions, computers, consumer electronics, home entertainment furniture, mattresses, fitness equipment and related services operating under the name hhgregg ^™. hhgregg currently operates 228 stores in Alabama, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Maryland, Mississippi, Missouri, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, West Virginia, and Wisconsin.

Safe Harbor Statement

The following is a Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This press release includes forward-looking statements. These statements may be identified by the use of forward-looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “should,” or “will,” or the negative thereof or other variations thereon or comparable terminology. In particular, statements about the expectations, beliefs, plans, objectives, assumptions or future events or performance of hhgregg, Inc. are forward-looking statements.

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