hhgregg announced preliminary Q3 quarter sales with decrease of 6%
Article continues below
Third fiscal quarter comparable store sales are estimated to have decreased approximately 6%, with the appliance category estimated to be relatively flat, the consumer electronics category estimated to have decreased approximately 4%, the home products category estimated to have decreased approximately 9%, and the computer and tablet category estimated to have decreased approximately 35%. The company estimates that its e-commerce business comparable sales were up approximately 59% for the fiscal third quarter.
The company continues to execute on its strategic initiatives focused on transforming our sales mix
Dennis May, president and CEO
"The computer and tablet industry continues to be negatively impacted by declining consumer demand. Additionally, we made a decision not to participate in certain areas of the computer and tablet business that were not profitable. The company remains active in executing our transformation strategies, and we are confident in our ability to make meaningful improvements in the coming fiscal year." ■