), a specialty retailer of consumer and other home products, is
all set to unveil its second quarter 2013 results on November 2,
2012, before market opens. The Zacks Consensus Estimate for
second quarter is pegged at 9 cents (estimated year-over-year
growth of 50.0%) on revenues of $640 million (year-over-year
increase of 17.9%).
First Quarter 2013 Recap
hhgregg, Inc's adjusted loss of 16 cents per share in the first
quarter of 2013 was narrower than the Zacks Consensus Estimate by
a penny. The loss, however, was wider than the loss of 2 cents
from the prior-year quarter. Decline in comparable store sales,
gross margin contraction and higher selling, general and
administrative expenses incurred during the period were
responsible for the wider loss.
The company's net sales of $490 million in the reported quarter
were in line with the Zacks Consensus Estimate. Revenues grew
13.5% year over year, driven by 30 new store openings during the
calendar year, partially offset by a decline in comparable store
Agreement of Estimate Revisions
Out of the 14 estimates for the second quarter of 2013, 2 were
revised downward in the last 7 days. Over the last 30 days,
3 out of the 14 estimates moved downwards.
Over the last 7 days, 2 out of the 14 estimates were revised
downward for the full year 2013, while 3 out of the 14 estimates
moved downwards over the last 30 days.
The downward pressure on estimates was due to increased
competitiveness in television prices. Also some of the largest
consumer electronics manufacturers introduced Unilateral Pricing
Policies (UPP), which will impose certain restrictions on the
sale and prices of high-end televisions.
Magnitude of Estimate Revisions
The Zacks Consensus Estimate for the second quarter of fiscal
2013 declined by a penny to 9 cents over the last 7 days.
Similarly the Zacks Consensus Estimate for fiscal 2013 has
declined by a penny to 92 cents over the last 7 days.
hhgregg, Inc has surpassed the Zacks Consensus Estimate in three
out of the last four quarters while meeting in one. The company
recorded a maximum positive surprise of 166.7% in the second
quarter of 2012. On average, the earnings surprise is 59.3%.
hhgregg primarily competes with
Best Buy Co. Inc
). hhgregg currently has a Zacks #5 Rank (short-term Strong Sell
BEST BUY (BBY): Free Stock Analysis Report
HHGREGG INC (HGG): Free Stock Analysis Report
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