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BRIEF-Hhgregg sees Q3 2017 sales about $453 million
January 9, 2017 / 10:09 PM / 8 months ago

BRIEF-Hhgregg sees Q3 2017 sales about $453 million

Jan 9 (Reuters) - Hhgregg Inc :

* Hhgregg announces preliminary third fiscal quarter net sales

* Sees Q3 2017 sales about $453 million

* Hhgregg inc - for third fiscal quarter of 2017, company estimates net sales to be approximately $453 million

* Hhgregg Inc - third fiscal quarter comparable store sales are estimated to have decreased approximately 22%

* Hhgregg inc - expects to incur a non-cash charge for asset impairment of certain locations in quarter ended december 31, 2016

* Hhgregg Inc says expects impact of non-cash pre-tax charge to be in range of $7 million to $12 million and is currently finalizing that determination

* Transition to a new distribution center had a temporary negative impact on sales for quarter

* “during quarter, we were challenged by competitive pressures in market, specifically in consumer electronics”

* Hhgregg inc - impairment charge is based on current trends in certain under-performing markets Source text for Eikon: Further company coverage:

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