hhgregg, Inc. (NYSE: HGG) ("hhgregg" or the "Company") today
announced operating results for the second fiscal quarter ended
September 30, 2016.
Second Fiscal Quarter
Summary
- Net sales decreased 6.6% to $455
million compared to prior year second fiscal quarter. Online sales
increased 35.5% compared to the prior year second fiscal
quarter.
- Comparable store sales decreased
6.4% compared to the prior year second fiscal quarter. Appliance
comparable store sales increased 5.7%.
- Gross margin increased to 28.7%
compared to 28.5% in the prior year second fiscal quarter.
- Net loss per diluted share was
$0.66. Net loss per diluted share, as adjusted, was $0.51. In the
prior year second fiscal quarter, net loss per diluted share was
$0.37 and net loss per diluted share, as adjusted, was
$0.35.
- As of September 30, 2016, hhgregg
had no outstanding debt.
“In the second fiscal quarter we continued to implement our
strategic plan and to position hhgregg as the best option to
purchase appliances, furniture and premium consumer electronics. We
successfully drove continued growth in appliances and furniture
during the quarter, with stable gross margins, offset by continued
decreases in the consumer electronics category. We also maintained
a debt free balance sheet at quarter end.” said Bob Riesbeck, Chief
Executive Officer. Riesbeck continued, “We also experienced solid
growth through our online channel. Our focus on the customer
experience continues to reflect positively as we again saw
increases in customer satisfaction scores. We are energized by
the upcoming holiday season as we look to maintain our steady
progress.”
Three Months Ended Six Months
Ended September 30, September 30,
(unaudited, amounts in thousands, except share and per share data)
2016 2015 2016
2015 Net sales $ 454,500 $ 486,876 $ 878,072 $
927,939 Net sales % decrease (6.6 )% (3.8 )% (5.4 )% (5.1 )%
Comparable store sales % decrease (1) (6.4 )% (3.5 )% (5.2 )% (4.8
)% Gross profit as a % of net sales 28.7 % 28.5 % 29.8 % 29.4 %
SG&A as a % of net sales 25.9 % 23.3 % 25.7 % 24.2 % Net
advertising expense as a % of net sales 4.8 % 5.4 % 5.1 % 5.3 %
Depreciation and amortization expense as a % of net sales 1.6 % 1.7
% 1.6 % 1.8 % Asset impairment charges as a % of net sales 0.3 % —
% 0.2 % — % Loss from operations as a % of net sales (3.8 )% (1.9
)% (2.7 )% (1.9 )% Net interest expense as a % of net sales 0.2 %
0.1 % 0.2 % 0.1 % Net loss $ (18,377 ) $ (10,126 ) $ (25,604 ) $
(18,881 ) Net loss, as adjusted (2) $ (14,133 ) $ (9,718 ) $
(19,875 ) $ (14,541 ) Net loss per diluted share $ (0.66 ) $ (0.37
) $ (0.92 ) $ (0.68 ) Net loss per diluted share, as adjusted (2) $
(0.51 ) $ (0.35 ) $ (0.72 ) $ (0.53 ) Adjusted EBITDA $ (6,146 ) $
(680 ) (4,130 ) 3,451 Weighted average shares outstanding—diluted
27,801,470 27,707,978 27,771,530 27,694,169 Number of stores open
at the end of period 221 227
(1)
Comprised of net sales at stores in
operation for at least 14 full months, including remodeled and
relocated stores, as well as net sales for the Company’s e-commerce
site.
(2)
Amounts are adjusted to exclude the asset
impairment charges, impact of severance and personnel costs related
to organizational changes related to our transformation efforts,
consulting expenses paid to outside parties to assist with our
transformation efforts, costs associated with our logistics
optimization project and debt issuance costs written off with the
June 2016 amendment to our Facility. See the attached
reconciliation of non-GAAP measures to GAAP measures.
HIGHLIGHTS FOR THE SECOND FISCAL QUARTER
Revenue Highlights
The Company's net sales performance for the quarter was driven
primarily by a comparable store sales decline. Net sales mix and
comparable store sales percentage changes by product category for
the three and six month periods ended September 30, 2016 and
2015 were as follows:
Net Sales Mix Summary
Comparable Store Sales Summary Three Months Ended
Six Months Ended Three Months Ended
Six Months Ended September 30,
September 30, September 30, September 30,
2016 2015 2016
2015 2016 2015 2016
2015 Appliances 63 % 56 % 64 % 57 % 5.7 % 0.8
% 4.7 % (0.7 )% Consumer electronics (1) 30 % 38 % 30 % 37 % (25.1
)% (10.2 )% (21.6 )% (12.3 )% Home products (2) 7 % 6 % 6 % 6 %
(0.7 )% 4.4 % (0.3 )% 7.8 % Total 100 % 100 % 100 % 100 % (6.4 )%
(3.5 )% (5.2 )% (4.8 )%
(1)
Primarily consists of televisions, audio,
personal electronics, computers and tablets and accessories.
(2)
Primarily consists of furniture and
mattresses.
The Company's comparable store sales drivers for the three
months ended September 30, 2016 are summarized below:
Comparable Store
Sales Average Selling Price Sales Unit Volume
Appliances 5.7 % Decrease Increase Consumer electronics (1) (25.1
)% Increase Decrease Home products (2) (0.7 )% Increase Decrease
Total (6.4 )%
(1)
Primarily consists of televisions, audio,
personal electronics, computers and tablets and accessories.
(2)
Primarily consists of furniture and
mattresses.
Gross Margin Highlights
The Company's gross profit margin, expressed as gross profit as
a percentage of net sales, increased for the three month period
ended September 30, 2016 to 28.7% from 28.5% for the
comparable prior year period.
- The Company's increase in gross profit
margin for the period was due to a favorable sales mix shift to
product categories with higher gross profit margin rates, in
addition to higher gross margin rates in consumer electronics
offset by decreased gross margin rates in appliances and home
products.
Cost Structure Highlights
The Company continues to manage its cost structure to align with
its expected sales levels and to keep the Company positioned for
EBITDA growth.
- The decrease in advertising expense of
$4.5 million in the second fiscal quarter was due to a reduction of
gross advertising spend driven by continued efficiency and
effectiveness in our advertising spend.
- The increase in SG&A as a
percentage of net sales to 25.9% from 23.3% for the three month
comparable prior year period was primarily a result of:
- Increase of 103 basis points in
delivery services primarily due to the increased number of
deliveries in all categories due to free delivery promotions;
- Increase of 59 basis points in
occupancy costs due to increased utilities and the deleveraging
effect of net sales decline;
- Increase of 50 basis points for costs
associated with our logistics optimization project; and
- Increase of 42 basis points in wages
primarily due to the deleveraging effect of net sales decline.
- In order to achieve greater
profitability and reduce expenses, the Company closed all five
stores in the under performing Wisconsin market.
Asset Impairment
The Company continues to invest in its store layouts to better
showcase its selections of appliances, consumer electronics and
home products. For certain locations that were previously evaluated
and fully impaired due to declining sales and profitability, the
Company performed another evaluation of these locations as of
September 30, 2016. Twenty-two stores with an aggregate net book
value of $2.1 million were reduced to an estimated aggregate fair
value of $0.7 million based on their projected cash flows,
discounted at 15%. This resulted in a non-cash asset impairment
charge of $1.4 million for the three months ended September 30,
2016. The fair values were determined using a probability based
cash flow analysis based on management's estimates of future
store-level sales, gross margins, and direct expenses.
Teleconference and Webcast
hhgregg will be conducting a conference call later this morning
to discuss operating results for the three months ended
September 30, 2016, on Tuesday, November 8, 2016 at 9:00
a.m. (Eastern Time). Our call will be hosted by Robert Riesbeck,
our President and CEO, Kevin Kovacs, our SVP, CFO and Lance
Peterson, our Vice President, Finance and Planning.
Interested investors and other parties may listen to a
simultaneous webcast of the conference call by logging onto
hhgregg’s website at www.hhgregg.com. The on-line replay will be
available for a limited time immediately following the call. The
call can also be accessed live over the phone by dialing (877)
304-8963. Callers should reference the hhgregg earnings call.
About hhgregg
hhgregg is an appliance, electronics and furniture retailer that
is committed to providing customers with a truly differentiated
purchase experience through superior customer service,
knowledgeable sales associates and the highest quality product
selections. Founded in 1955, hhgregg is a multi-regional retailer
currently with 220 stores in 19 states that also offers
market-leading global and local brands at value prices nationwide
via hhgregg.com.
Forward Looking Statements
The following is a Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995:
This press release includes forward-looking statements,
including with respect to the Company’s financial performance,
ability to manage costs, ability to execute the Company's 2017
initiatives, innovation in the video industry, the impact and
amount of non-cash charges, and shifts in the Company’s sales mix.
hhgregg has based these forward-looking statements on its current
expectations, assumptions, estimates and projections. While hhgregg
believes these expectations, assumptions, estimates and projections
are reasonable, these forward-looking statements are only
predictions and involve known and unknown risks and uncertainties,
many of which are beyond its control. These and other important
factors may cause hhgregg’s actual results, performance or
achievements to differ materially from any future results,
performance or achievements expressed or implied by these
forward-looking statements. Some of the key factors that could
cause actual results to differ from hhgregg’s expectations are: the
ability to successfully execute the Company's strategies and
initiatives, particularly in returning the Company to profitable
growth; the Company's ability to increase customer traffic and
conversion; competition in the retail industry; the Company's
ability to maintain a positive brand perception and recognition;
the Company's ability to attract and retain qualified personnel;
the Company's ability to maintain the security of customer,
associate and Company information; rules, regulations, contractual
obligations, compliance requirements and fees associated with
accepting a variety of payment methods; the Company's ability to
effectively achieve cost cutting initiatives; the Company's ability
to generate strong cash flows to support its operating activities;
the Company's relationships and operations of its key suppliers;
the Company's ability to generate sufficient cash flows to recover
the fair value of long-lived assets; the Company's ability to
maintain and upgrade its information technology systems; the
fluctuation of the Company's comparable store sales; the effect of
general and regional economic and employment conditions on the
Company's net sales; the Company's ability to meet financial
performance guidance; disruption in the Company's supply chain;
changes in trade regulation, currency fluctuations and prevailing
interest rates; and the potential for litigation.
Other factors that could cause actual results to differ from
those implied by the forward-looking statements in this press
release are more fully described in the “Risk Factors” section in
the Company’s Annual Report on Form 10-K for fiscal year 2016 filed
May 19, 2016. Given these risks and uncertainties, you are
cautioned not to place undue reliance on these forward-looking
statements. The forward-looking statements included in this press
release are made only as of the date hereof. hhgregg does not
undertake, and specifically declines, any obligation to update any
of these statements or to publicly announce the results of any
revisions to any of these statements to reflect future events or
developments.
HHGREGG, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED) Three Months Ended Six Months
Ended September 30, September 30,
September 30, September 30, 2016
2015 2016 2015
(In thousands, except share and per share data) Net sales $
454,500 $ 486,876 $ 878,072 $ 927,939 Cost of goods sold 324,113
348,231 616,176 654,937 Gross profit
130,387 138,645 261,896 273,002 Selling, general and administrative
expenses 117,626 113,479 225,735 224,583 Net advertising expense
21,763 26,254 44,632 49,308 Depreciation and amortization expense
7,068 8,391 14,046 16,760 Asset impairment charges 1,388 —
1,388 — Loss from operations (17,458 ) (9,479
) (23,905 ) (17,649 ) Other expense (income): Interest expense 936
649 1,721 1,239 Interest income (17 ) (2 ) (22 ) (7 ) Total other
expense 919 647 1,699 1,232 Loss before
income taxes (18,377 ) (10,126 ) (25,604 ) (18,881 ) Income taxes —
— — — Net loss $ (18,377 ) $ (10,126 )
$ (25,604 ) $ (18,881 ) Net loss per share Basic and diluted $
(0.66 ) $ (0.37 ) $ (0.92 ) $ (0.68 ) Weighted average shares
outstanding-basic and diluted 27,801,470 27,707,978 27,771,530
27,694,169
HHGREGG, INC. AND
SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS (AS A PERCENTAGE OF NET SALES)
(UNAUDITED) Three Months Ended Six Months
Ended September 30, September 30,
September 30, September 30, 2016
2015 2016
2015 Net sales 100.0 % 100.0 % 100.0 % 100.0 % Cost of goods
sold 71.3 71.5 70.2 70.6 Gross profit
28.7 28.5 29.8 29.4 Selling, general and administrative expenses
25.9 23.3 25.7 24.2 Net advertising expense 4.8 5.4 5.1 5.3
Depreciation and amortization expense 1.6 1.7 1.6 1.8 Asset
impairment charges 0.3 — 0.2 — Loss
from operations (3.8 ) (1.9 ) (2.7 ) (1.9 ) Other expense (income):
Interest expense 0.2 0.1 0.2 0.1 Interest income — —
— — Total other expense 0.2 0.1 0.2
0.1 Loss before income taxes (4.0 ) (2.1 ) (2.9 )
(2.0 ) Income taxes — — — — Net loss
(4.0 ) (2.1 ) (2.9 ) (2.0 )
Certain percentage amounts do not sum due
to rounding
HHGREGG, INC.
AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS
SEPTEMBER 30, 2016, MARCH 31, 2016 AND SEPTEMBER 30, 2015
(UNAUDITED)
September 30,
March 31,
September 30,
2016
2016
2015
(In thousands, except share data) Assets Current
assets:
Cash $ 1,207 $ 3,703 $ 34,877 Accounts receivable—trade, less
allowances of $6, $5 and $5 as of September 30, 2016, March 31,
2016 and September 30, 2015, respectively 12,697 11,106 11,556
Accounts receivable—other 21,999 14,937 14,383 Merchandise
inventories, net 241,518 256,559 288,690 Prepaid expenses and other
current assets 5,406 6,333 5,381 Income tax receivable —
1,130 706 Total current assets 282,827 293,768
355,593 Net property and equipment 83,081 87,472
118,463 Deferred financing costs, net 2,314 1,257 1,526 Deferred
income taxes — — 7,816 Other assets 3,081 2,855 2,905
Total long-term assets 88,476 91,584 130,710
Total assets $ 371,303 $ 385,352 $ 486,303
Liabilities and Stockholders’ Equity Current
liabilities: Accounts payable $ 109,104 $ 107,474 $ 143,840 Line of
credit — — — Customer deposits 48,487 43,235 50,851 Accrued
liabilities 47,769 43,370 52,454 Deferred income taxes — —
7,816 Total current liabilities 205,360
194,079 254,961 Long-term liabilities: Deferred rent
53,321 59,101 63,887 Other long-term liabilities 16,079
10,818 11,128 Total long-term liabilities 69,400
69,919 75,015 Total liabilities 274,760
263,998 329,976 Stockholders’ equity: Preferred
stock, par value $.0001; 10,000,000 shares authorized; no shares
issued and outstanding as of September 30, 2016, March 31, 2016 and
September 30, 2015, respectively — — — Common stock, par value
$.0001; 150,000,000 shares authorized; 41,302,642, 41,204,660 and
41,204,660 shares issued; and 27,805,960, 27,707,978 and 27,707,978
outstanding as of September 30, 2016, March 31, 2016, and September
30, 2015, respectively 4 4 4 Additional paid-in capital 305,118
304,325 303,300 Accumulated deficit (58,351 ) (32,747 ) 3,251
Common stock held in treasury at cost; 13,496,682 shares as of
September 30, 2016, March 31, 2016, and September 30, 2015 (150,228
) (150,228 ) (150,228 ) Total stockholders’ equity 96,543
121,354 156,327 Total liabilities and stockholders’
equity $ 371,303 $ 385,352 $ 486,303
HHGREGG, INC. AND SUBSIDIARIES CONSOLIDATED
STATEMENTS OF CASH FLOWS SIX MONTHS ENDED SEPTEMBER 30, 2016
AND 2015 (UNAUDITED) Six Months Ended
September 30, September 30, 2016
2015 (In thousands) Cash flows from operating
activities: Net loss $ (25,604 ) $ (18,881 ) Adjustments to
reconcile net loss to net cash provided by (used in) operating
activities: Depreciation and amortization 14,046 16,760
Amortization of deferred financing costs 256 270 Stock-based
compensation 835 1,684 Excess tax benefit from stock based
compensation 126 — Gain on sales of property and equipment 219 52
Asset impairment charges 1,388 — Tenant allowances received from
landlords — 721 Changes in operating assets and liabilities:
Accounts receivable—trade (1,591 ) 345 Accounts receivable—other
(7,062 ) 1,631 Merchandise inventories 15,041 (31,221 ) Income tax
receivable 1,130 4,620 Prepaid expenses and other assets 816 1,217
Accounts payable 12,104 29,461 Customer deposits 5,252 2,109
Accrued liabilities 4,357 5,667 Deferred rent (5,780 ) (4,068 )
Other long-term liabilities 5,395 (747 ) Net cash provided
by operating activities 20,928 9,620 Cash flows from
investing activities: Purchases of property and equipment (11,475 )
(8,118 ) Proceeds from sales of property and equipment 42 62
Purchases of corporate-owned life insurance (115 ) (78 ) Net cash
used in investing activities (11,548 ) (8,134 ) Cash flows from
financing activities: Net (repayments) borrowings on inventory
financing facility (10,437 ) 2,990 Payment of financing costs
(1,439 ) — Net cash (used in) provided by financing
activities (11,876 ) 2,990 Net (decrease) increase in cash
and cash equivalents (2,496 ) 4,476 Cash and cash equivalents
Beginning of period 3,703 30,401 End of period $
1,207 $ 34,877 Supplemental disclosure of cash flow
information: Interest paid $ 1,504 $ 966 Income taxes received $
(1,132 ) $ (4,600 ) Capital expenditures included in accounts
payable $ 1,228 $ 665
The Company believes that the non-GAAP measures described below
provide meaningful information to assist shareholders in
understanding its financial results and assessing its prospects for
future performance. Management believes adjusted net loss, adjusted
net loss per diluted share, EBITDA, and Adjusted EBITDA are
important indicators of its operations because they exclude items
that may not be indicative of or are unrelated to its core
operating results and provide a baseline for analyzing trends in
our underlying businesses. Management makes standard adjustments
for items such as non-cash asset impairments, consulting fees,
severance costs, costs associated with its logistics optimization,
store closure costs, as well as adjustments for other items that
may arise during the period and have a meaningful impact on
comparability.
The below information provides reconciliations from net loss,
the most comparable financial measure calculated and presented in
accordance with accounting principles generally accepted in U.S.
(“GAAP”), to non-GAAP financial measures. The Company has provided
non-GAAP financial measures, which are not calculated or presented
in accordance with GAAP, as information supplemental and in
addition to the financial measures presented in the accompanying
earnings release that are calculated and presented in accordance
with GAAP. Such non-GAAP financial measures should not be
considered superior to, as a substitute for, or as an alternative
to, and should be considered in conjunction with, the GAAP
financial measures presented in the earnings release. The non-GAAP
financial measures in the accompanying earnings release may differ
from similar measures used by other companies.
EBITDA represents net loss before income tax expense, interest
income, interest expense, depreciation and amortization. The
Company has presented EBITDA because it considers it an important
supplemental measure of its performance and believes it is
frequently used by analysts, investors and other interested parties
in the evaluation of companies in its industry. Management uses
EBITDA as a measurement tool for evaluating its actual operating
performance compared to budget and prior periods. EBITDA is not a
measure of performance under US GAAP and should not be considered
as a substitute for net loss prepared in accordance with GAAP.
EBITDA has limitations as an analytical tool, and you should not
consider these in isolation or as a substitute for analysis of the
Company's results as reported under GAAP.
Some of the limitations of EBITDA measures are:
- EBITDA does not reflect the Company's
cash expenditures, or future requirements, for capital expenditures
or contractual commitments;
- EBITDA does not reflect interest
expense or the cash requirements necessary to service interest
payments on the Company's debt;
- EBITDA does not reflect tax expense or
the cash requirements necessary to pay for tax obligations;
and
- Although depreciation and amortization
are non-cash charges, the asset being depreciated and amortized
will often have to be replaced in the future, and EBITDA does not
reflect any cash requirements for such replacements.
The Company compensates for these limitations by relying
primarily on its GAAP results and using EBITDA only as a
supplement.
HHGREGG, INC. AND SUBSIDIARIES
NON-GAAP RECONCILIATION OF NET LOSS, AS ADJUSTED AND
DILUTED NET LOSS PER SHARE, AS ADJUSTED, (UNAUDITED)
Three Months Ended Six Months Ended
September 30, September 30, (Amounts in thousands,
except share data) 2016 2015
2016 2015 Net loss as reported $
(18,377 ) $ (10,126 ) $ (25,604 ) $ (18,881 ) Non-cash adjustments
to net loss: Asset impairment charges 1,388 — 1,388 — Cash
adjustments to net loss: Severance and personnel costs (1) 762 —
1,425 — Logistics optimization (2) 2,284 — 2,858 — Other (3) (190 )
408 58 4,340 Net loss, as adjusted $ (14,133 )
$ (9,718 ) $ (19,875 ) $ (14,541 ) Weighted average shares
outstanding – Diluted 27,801,470 27,707,978 27,771,530 27,694,169
Net loss per diluted share as reported $ (0.66 ) $ (0.37 ) $ (0.92
) $ (0.68 ) Net loss per diluted share, as adjusted $ (0.51 ) $
(0.35 ) $ (0.72 ) $ (0.53 )
(1)
Expenses incurred related to our
organizational changes in our transformation efforts.
(2)
Includes consulting expenses, payroll
expenses and retention bonuses for key employees assisting in the
transition and pre-opening expenses for the new logistic
facilities.
(3)
Current year consists deferred
amortization fees written off with the June 2016 amendment to our
Facility, costs incurred for the closing of stores including
deferred rent written off and costs paid to consultants to assist
with the Company's transformation. See breakout below. Prior year
amounts are for costs paid to consultants to assist with the
Company's transformation efforts.
Three Months Ended Six Months
Ended (Amounts in thousands) September 30, 2016
September 30, 2016 Deferred Amortization Fees Written Off $
— $ 126 Store Closing Costs (274 ) (274 ) Consulting Costs 84
206 $ (190 ) $ 58
HHGREGG, INC. AND SUBSIDIARIES NON-GAAP RECONCILIATION OF
EBITDA AND ADJUSTED EBITDA (UNAUDITED) Three
Months Ended September 30, Six Months Ended September
30, (Amounts in thousands) 2016
2015 2016 2015 Net loss
as reported $ (18,377 ) $ (10,126 ) $ (25,604 ) $ (18,881 )
Adjustments: Depreciation and amortization 7,068 8,391 14,046
16,760 Interest expense, net 919 647 1,699 1,232 Income tax expense
— — — — EBITDA $ (10,390
) $ (1,088 ) $ (9,859 ) $ (889 ) Non-cash asset impairment charges
1,388 — 1,388 — Severance and personnel costs (1) 762 — 1,425 —
Logistics optimization (2) 2,284 — 2,858 — Other (3) (190 ) 408
58 4,340 Adjusted EBITDA $ (6,146 ) $ (680 ) $
(4,130 ) $ 3,451
(1)
Expenses incurred related to our
organizational changes in our transformation efforts.
(2)
Includes consulting expenses, payroll
expenses and retention bonuses for key employees assisting in the
transition and pre-opening expenses for the new logistic
facilities.
(3)
Current year consists deferred
amortization fees written off with the June 2016 amendment to our
Facility, costs incurred for the closing of stores including
deferred rent written off and costs paid to consultants to assist
with the Company's transformation. See breakout below. Prior year
amounts are for costs paid to consultants to assist with the
Company's transformation efforts.
Three Months Ended Six Months Ended
(Amounts in thousands) September 30, 2016
September 30, 2016 Deferred Amortization Fees Written Off $
— $ 126 Store Closing Costs (274 ) (274 ) Consulting Costs 84
206 $ (190 ) $ 58
HHGREGG, INC. AND SUBSIDIARIES Store Count by Quarter for
Fiscal Years 2015, 2016 and 2017 (Unaudited)
FY2015 FY2016 FY2017 Q1
Q2 Q3 Q4 Q1
Q2 Q3 Q4 Q1
Q2 Beginning Store Count 228 229 228 228 228 227 227 227 226
226 Store Openings 1 — — — 1 — — — — — Store Closings —
(1 ) — — (2 ) — — (1 ) —
(5 ) Ending Store Count 229 228 228 228
227 227 227 226 226 221
Note: hhgregg, Inc. ’s fiscal year is
comprised of four quarters ending
June 30th, September 30th, December 31st
and March 31st.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161108005328/en/
hhgregg, Inc.Lance Peterson, Vice President, Finance and
Planning317-848-8710investorrelations@hhgregg.com
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