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Home Depot overcomes slow start to spring selling season in Q1
Despite getting a slow start to the year, The Home Depot rallied in the first quarter thanks to solid results in non-weather-impacted markets.
The home improvement retailer reported first-quarter sales of $19.7 billion, up 2.9% from last year's first quarter. Comparable store sales were up 2.6%. Comp-store sales for U.S. stores were positive 3.3%.
The company also reported double-digit growth in net earnings — up 12.5% to $1.38 billion.
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Hhgregg swings to loss in Q4
Indianapolis – Hhgregg Inc. swung to a net loss of $7.2 billion in the fourth quarter of fiscal 2014, compared to net income of $9.9 million in the same period the prior fiscal year. Net sales dropped 10% to $538.3 million, from $597.6 million.
A same-store sales decline of 10% affected both net income and sales, and charges related to Hhgregg’s planned exit from the mobile phone business also helped drive its net loss.