This Day On The Street
Continue to site
ADVERTISEMENT
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 Second Fiscal Quarter Operating Results

hhgregg, Inc. (NYSE: HGG):
  Three Months Ended   Six Months Ended
September 30,   September 30,
(unaudited, amounts in thousands, except share and per share data) 2013   2012   2013   2012
Net sales $ 568,315 $ 587,636 $ 1,093,237 $ 1,077,492
Net sales % (decrease) increase (3.3 )% (5.0 )% 1.5 % 2.6 %
Comparable store sales % decrease (1) (6.2 )% (8.8 )% (3.0 )% (7.2 )%
Gross profit as a % of net sales 29.6 % 29.6 % 29.5 % 29.8 %
SG&A as a % of net sales 21.2 % 21.4 % 21.9 % 22.7 %
Net advertising expense as a % of net sales 5.4 % 5.4 % 5.2 % 5.5 %
Depreciation and amortization expense as a % of net sales 1.8 % 1.7 % 2.0 % 1.8 %
Income (loss) from operations as a % of net sales 1.2 % 1.1 % 0.5 % (0.2 )%
Net interest expense as a % of net sales 0.1 % 0.1 % 0.1 % 0.1 %
Net income (loss) $ 3,679 $ 3,760 $ 2,419 $ (1,940 )
Net income (loss) per diluted share $ 0.12 $ 0.11 $ 0.08 $ (0.05 )
Weighted average shares outstanding—diluted 31,240,325 35,291,269 31,427,112 35,685,482
Number of stores open at the end of period 228 223
 

(1)
 

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 net income of $3.7 million, or $0.12 per diluted share, for the three month period ended September 30, 2013, compared with net income of $3.8 million, or $0.11 per diluted share, for the comparable prior year period. For the six month period ended September 30, 2013, the Company reported net income of $2.4 million, or $0.08 per diluted share, compared with a net loss of $(1.9) million, or $(0.05) per diluted share for the comparable prior year period. The decrease in net income for the three month period ended September 30, 2013 was largely due to a comparable store sales decrease of 6.2%, partially offset by a decrease in SG&A as a percentage of net sales. The increase in net income for the six month period ended September 30, 2013 was largely the result of an increase in net sales due to the net addition of five stores during the past 12 months, a decrease in SG&A expense as a percentage of net sales and a decrease in net advertising as a percentage of net sales, partially offset by a decrease in gross profit as a percentage of net sales.

1 of 7

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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs