hhgregg Profit Drops to $5 Million
hhgregg said this week it posted a profit of $5 million for the last three months of 2013. This compares to $15.4 million the same period last year.
Net sales, meanwhile, dropped 11.6 percent to $707.1 million.
“As previously reported, our sales of consumer electronics and computing and wireless products were significantly below our expectations during the quarter," Dennis May, CEO of hhgregg, said as part of the announcement.