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Hhgregg fourth-quarter sales take hit from extreme weather
Extreme weather hurt Hhgregg’s sales performance in the fourth quarter ended March 31. During the quarter the company also exited the contract-based mobile phone business.
Net sales are estimated to be $538.3 million, a decrease of approximately 9.9% as compared to net sales of $597.6 million reported for the fourth fiscal quarter of 2013. Fourth fiscal quarter comparable store sales are estimated to have decreased approximately 9.9%.
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Net sales at 99 Cents drop in shortened fiscal 2014
99 Cents Only recently changed its fiscal year from the Saturday closest to the end of March, to the Friday closest to the end of January, to be in line with its retail industry peers. But during the shortened fiscal year consisting of 44 weeks, from March 31, 2013 to Jan. 31, the company widened its net loss.
Total net sales were $1.53 billion, down 8% from $1.66 billion. Same-store sales rose 3.7%.