hhgregg, Inc. (NYSE: HGG):
|Three Months Ended|
|(unaudited, amounts in thousands, except share and per share data)||2013||2012|
|Net sales % increase||7.2||%||13.5||%|
|Comparable store sales % increase (decrease) (1)||0.8||%||(5.1||)%|
|Gross profit as a % of net sales||29.5||%||29.9||%|
|SG&A as a % of net sales||22.7||%||24.3||%|
|Net advertising expense as a % of net sales||4.9||%||5.6||%|
|Depreciation and amortization expense as a % of net sales||2.1||%||1.9||%|
|Loss from operations as a % of net sales||(0.3||)%||(1.9||)%|
|Net interest expense as a % of net sales||0.1||%||0.1||%|
|Net loss per diluted share||$||(0.04||)||$||(0.16||)|
|Weighted average shares outstanding—diluted||31,263,226||36,138,688|
|Number of stores open at the end of period||228||210|
Comprised of net sales at stores in operation for at least 14 full months, including remodeled and relocated stores, as well as net sales for the Company’s e-commerce site.
hhgregg, Inc. (“hhgregg” or the “Company”) today reported a net loss of $1.3 million, or $0.04 per diluted share, for the three month period ended June 30, 2013, compared with a net loss of $5.7 million, or $0.16 per diluted share, for the comparable prior year period. The decrease in net loss for the three month period ended June 30, 2013 was largely due to a comparable store sales increase of 0.8%, a decrease in SG&A as a percentage of net sales and a decrease in net advertising expense as a percentage of net sales, offset by a decrease in gross profit as a percentage of net sales.