hhgregg Profit Rises
hhgregg posted a profit of $6 million in the second quarter, compared to $3.9 million at the same time last year. The company attributed the performance to stronger sales, as it opened 35 new stores in the last year.
"We were pleased with our overall results during the quarter and our ability to deliver strong growth in both net sales and net income per diluted share. During the quarter, our strategic initiatives began to gain traction and generate favorable results," hhgregg president and CEO Dennis May said in a statement.
"We launched our new website, gained market share in appliances, and expanded our assortment in the home office category, all while successfully opening 24 new stores in the Chicago and Miami markets."