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Hhgregg swings to loss in Q1, on track to open 24 stores in second quarter
Indianapolis -- Electronics and appliances retailer Hhgregg Inc. reported Thursday that it lost $761,000 in the quarter ended June 30, compared with a profit of $2.7 million in the year-ago period. The retailer cited softness in its video business for the weakened performance.
Revenue dipped 1% to $431.5 million, from $436 million a year earlier. Wall Street expected revenue of $488 million. Same-store sales decreased 13.2%.
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J.D. Power Study: Lowe’s highest among appliance retailers in customer satisfaction
Westlake Village, Calif. -- Lowe's ranked highest in customer satisfaction among appliance retailers for a second consecutive year, achieving a score of 807 on a 1,000-point scale, according to the J.D. Power and Associates 2011 Appliance Retailer Satisfaction Study. The study measures satisfaction based on performance in six areas: sales staff and service; store facility; merchandise (i.e., variety of brands/models offered and availability of merchandise and product information); price; delivery service; and installation service.