hhgregg Posts $10.3 Million LossJuly 31, 2014
Over the period, net sales decreased 10 percent.
"While we expected the first quarter to be challenging given the difficult comparison to the prior year, we are not satisfied with our recent results," CEO Dennis May said as part of the announcement.
" We recognize the importance of balancing near-term results with long-term investments to transform the business. Therefore we will continue to invest in our strategic initiatives to reposition the business around a broader assortment of home products.