The stock price of the Indianapolis-based appliance and electronics retailer fell by more than 18 percent this week after the company disclosed that it is postponing plans to open stores in Michigan.
The appliance and electronics retailer is quietly launching a test of furniture and fitness equipment, with rollouts scheduled for 31 of its more than 200 stores.
Indianapolis-based HHGregg Inc is a retailer of consumer electronics and home appliances. It operates 212 stores in 17 states.
Disappointing sales at stores open at least a year dragged Indianapolis-based HHGregg Inc. to a rare quarterly loss, the appliance and electronics retail chain said on Thursday.
Retailer’s operating income is the same as five years ago, even though it has triple the number of stores.
HHGregg Inc. shares plunged Wednesday after the Indianapolis-based appliance and electronics retailer said it expects to report a wider first-quarter loss because of weak sales in its video business. It also cut its full-year outlook.
Performance varied widely as industries ebbed, flowed.
The Indianapolis-based appliance and electronics retailer on Wednesday reported fiscal quarterly profit of $53.6 million, including $39.6 million from a life insurance policy the company took out on former executive chairman Jerry W. Throgmartin.
The struggling electronics chain Best Buy has launched a turnaround strategy that borrows more than a few pages from the playbook of competitor HHGregg.
HHGregg has collected a $40 million payout from a life insurance policy it took out on former executive chairman Jerry W. Throgmartin, who died in January after a sudden illness.
The appliance and electronics retailer attributed the decline to lower-than-expected profit margins and higher spending on advertising.
Meningitis, a rare disorder caused by an infection of the membranes covering the brain and spinal cord, usually can be treated but is sometimes fatal.
Jerry Throgmartin helped transform HHGregg from a local electronics retailer into a national player with more than $2 billion in revenue. He died over the weekend while visiting his ranch in Colorado.
Appliance and electronics retailer HHGregg Inc.’s stock price fell more than 15 percent Tuesday after it reported lower-than-expected earnings for the fiscal third quarter.
Jerry Throgmartin, 57, died Jan. 22, 2012, at the age of 57. His family said he died from complications of meningitis—an infection that leads to inflammation of the membranes covering the brain and spinal cord.
HHGregg Inc.’s stock price shot up nearly 20 percent late Wednesday morning after the Indianapolis-based appliance and electronics retailer reported strong earnings.
Traditional retailers are trying to connect with customers, however and whenever they want to do business.
Shares of electronics and appliance retailer HHGregg Inc. slumped more than 18 percent Thursday morning, to a two-year low, after the chain reported its first quarterly loss in four years.
The appliance and electronics retailer on Thursday reported a loss of $800,000, or 2 cents per share, in its fiscal first quarter ended June 30—just its second quarterly loss since going public in 2007.
Indianapolis-based HHGregg Inc. is a specialty retailer of consumer electronics and home appliances. It operates 180 stores in 15 states.
