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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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A.C. Moore fails to craft 2Q sales growth
BERLIN, N.J. — A.C. Moore Arts & Crafts saw sales for its second quarter decrease 0.8% to $99 million from $99.9 million last year. According to the company, the decrease was primarily due to a decrease in comparable-store sales of 0.7%. Net loss for the quarter was $7.9 million, or 32 cents per share, compared with a net loss of $9.7 million, or 40 cents per share in the second quarter of last year.