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Last $6.21 USD
Change Today -0.19 / -2.97%
Volume 79.1K
HGG On Other Exchanges
Symbol
Exchange
New York
As of 3:45 PM 03/6/15 All times are local (Market data is delayed by at least 15 minutes).

hhgregg inc (HGG) Key Developments

hhgregg, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2014; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2014

hhgregg, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2014. The company reported that in the quarter ended December 31, 2014, it had an adjusted loss of $0.14 per share compared to a profit of $0.17 a year ago. Net sales fell to $665.6 million against $707.053 million a year ago. On a reported basis, the net loss was $86.9 million or $3.10 per diluted share compared to a profit of $5.0 million or $0.17 a year ago. Loss before income taxes was $45.593 million against income before income taxes of $8.168 million a year ago. Net loss, as adjusted was $3.807 million against net income of $5.234 million a year ago. Adjusted EBITDA was $8.024 million against $19.956 million a year ago. The decrease in net sales for the three month period was primarily the result of a comparable store sales decrease of 6.3%. LBITDA was $34.963 million against EBITDA of $19.646 million a year ago. For the nine months, the company reported net sales of $1,643,771,000 against $1,800,290,000 a year ago. Loss before income taxes was $76.781 million against income before income taxes of $12.151 million a year ago. Net loss was $107.518 million or $3.8 per diluted share against net income of $7.466 million or $0.24 per diluted share a year ago. Net cash provided by operating activities was $1.544 million against $12.570 million a year ago. Purchases of property and equipment was $16.803 million against $19.888 million a year ago. Net loss, as adjusted was $24.460 million or $0.86 per diluted share against net income of $7.652 million or $0.25 per diluted share a year ago. Adjusted LBITDA was $0.566 million against adjusted EBITDA of $46.537 million a year ago. The decrease in net income, as adjusted for the nine months ended December 31, 2014 was largely due to a comparable store sales decrease of 9.1%. LBITDA was $43.553 million against EBITDA of $46.227 million a year ago. For the fourth quarter, the company reported asset impairment charges of $42.987 million compared to $0.310 million a year ago.

hhgregg, Inc. Provides Preliminary Sales Guidance for the Third Quarter Ended December 31, 2014

hhgregg, Inc. provided preliminary sales guidance for the third quarter ended December 31, 2014. For the third fiscal quarter of 2015, the company estimates net sales to be approximately $666 million, a decrease of approximately 6% as compared to net sales of $707 million reported for the third fiscal quarter of 2014. Third fiscal quarter comparable store sales are estimated to have decreased approximately 6%, with the appliance category estimated to be relatively flat, the consumer electronics category estimated to have decreased approximately 4%, the home products category estimated to have decreased approximately 9%, and the computer and tablet category estimated to have decreased approximately 35%. The company estimates that its e-commerce business comparable sales were up approximately 59% for the fiscal third quarter.

hhgregg, Inc. to Report Q3, 2015 Results on Jan 29, 2015

hhgregg, Inc. announced that they will report Q3, 2015 results at 11:00 AM, GMT Standard Time on Jan 29, 2015

hhgregg, Inc., Q3 2015 Earnings Call, Jan 29, 2015

hhgregg, Inc., Q3 2015 Earnings Call, Jan 29, 2015

hhgregg, Inc. Appoints Keith M. Zimmerman as Chief Merchandising Officer, Effective January 5, 2015

On December 24, 2014, the Boards of Directors of hhgregg, Inc. appointed Keith M. Zimmerman as the company's Chief Merchandising Officer, effective January 5, 2015. Mr. Zimmerman is 56 years old and brings over 20 years of experience in merchandising and marketing management. Most recently, Mr. Zimmerman served as Chief Merchandising Officer at P.C. Richard & Son from May 2014 to December 2014. Before joining P.C. Richard & Son, Mr. Zimmerman served in various positions at American TV and Appliance of Madison, Inc. beginning in 1979 and most recently serving as Executive Vice President and Chief Merchant for Electronics and Appliances through April 2014. Prior to this, Mr. Zimmerman held the position of Senior Vice President of Appliance Marketing at American TV and Appliance of Madison, Inc.

 

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