Electronics and appliance retailer hhgregg Inc. on Thursday said its fiscal first-quarter net loss shrank on stronger sales and a decrease in advertising expenses.
The Indianapolis-based company reported a net loss of $1.3 million, or 4 cents per share, compared with a net loss of $5.7 million, or 16 cents per share during the same period a year ago. Revenue for the quarter ended June 30 totaled $525 million.
Analysts had estimated that the company would report a loss of nearly 15 cents a share.
The increase in revenue was driven largely by an increase in sales of appliances, computers and wireless and home products, partially offset by a decline in consumer electronics sales, the company said.
