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%.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.