hhgregg, Inc. (HGG) Misses Q3 EPS by 11c; Cuts FY14 Profit Outlook

hhgregg, Inc. (NYSE: HGG) reported Q3 EPS of $0.17, $0.11 worse than the analyst estimate of $0.28. Revenue for the quarter came in at $707.1 million versus the consensus estimate of $774.6 million.

Comparable store sales decreased 11.2%.

hhgregg, Inc. sees FY2014 EPS of $0.30-$0.40, versus prior guidance of $0.75-$0.9 and the consensus of $0.58. Fiscal 2014 comparable store sales of negative 7.0% to negative 5.5% from our previous assumption of negative 3.5% to negative 2.0%. Fiscal 2014 net sales change of negative 5.5% to negative 4.0% from our previous assumption of negative 1.5% to flat

For earnings history and earnings-related data on hhgregg, Inc. (HGG) click here.

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