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Hhgregg Q4 profit surges on insurance payout
Indianapolis -- Hhgregg Inc.'s fiscal fourth-quarter earnings jumped as the chain collected $39.6 million in life insurance proceeds due to the death of executive chairman and former CEO Jerry W. Throgmartin.
Throgmartin, who died Jan. 22 at age 57, served as chairman and CEO of Hhgregg from 2003 to 2009 and led it through a 2007 initial public offering of stock. Hhgregg said Wednesday it collected the proceeds from a "key man" life insurance policy.
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PetSmart solidifies top spot in pet retail with earnings surge
PHOENIX — Earnings shot up 39% to 85 cents per share to 61 cents per share at PetSmart during the first quarter as the company continues to dominate the pet retail space. Net income totaled $95 million in the first quarter of 2012, compared with $71 million in the first quarter of 2011.