Electronics-appliance retailer hh gregg sees reports narrower loss

Business
Aug 1, 2013
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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.

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