Thursday, hhgregg Inc. (HGG) said its second-quarter net income increased to $4.94 million or $0.13 per share from $3.39 million or $0.10 per share in the prior year period. On average, 114 analysts polled by Thomson Reuters expected the company to report earnings of $0.07 per share for the quarter.
Net sales for the quarter rose to $332.17 million from $320.30 million in the comparable period. Twelve analysts estimated revenues of $324.49 million for the quarter. Comparable store sales for the quarter declined to 9.4% compared with a decrease of 8.8% last year.
The company is tightening its fiscal 2010 net income per share guidance to $0.90 - $1.00 from its previous range of $0.85 - $1.00. Fourteen analysts estimate earnings of $0.96 per share for the year.
In addition, the company is updating its guidance for net sales growth of 6% - 9% for the fiscal year, implying an expectation of a comparable store sales decline of 6% - 9% for fiscal 2010, from prior sales growth guidance of of 3% - 7%, which had implied an expectation of a comparable store sales decline of 7% - 12%.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.