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Hhgregg swings to Q3 loss, misses Street
Indianapolis – Hhgregg Inc. had a difficult third quarter of fiscal 2015, swinging to a loss from a profit the prior year period and missing Wall Street expectations for both profit and revenue. The retailer posted a net loss of $86.9 million compared to net income of $5.05 million, which was a wider loss than projected by analysts.
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Low PC demand plagues Hhgregg
Sluggish traffic and weak performance in the consumer electronics segment led Hhgregg to post a 6.3% drop in same store sales in the third quarter.
The retailer reported a loss in profits from the prior year period and missed Wall Street expectations for both profit and revenue. Hhgregg posted a net loss of $86.9 million, compared to net income of $5.05 million, which was a wider loss than projected by analysts.

