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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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Investment firm names new COO
BOSTON — Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors, has named Robert Paglia COO. Paglia will focus on the oversight of Gordon Brothers Group's operating, financial planning, human resource, administrative, corporate marketing, and information technology functions in support of the firm's global platform of integrated operating and capital solutions, the company reported.