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Some five months ago we made the parallels between hhgregg (HGG) and bankrupt Circuit City. Since then, the stock is down 57%. We still can't respect a company that the customers don't respect. Outlined below is why we're not ready to cover our short call.

Investors know hhgregg as a retailer of home appliances, televisions, computers, consumer electronics. Appliances make up over half of revenues, with consumer electronics being its other major revenue generator, accounting for 35% of sales.

Third quarter comps were down due to consumer electronics decline, thanks to double digit comp store sales decreases in TVs. On the flip side, sales of computing and wireless (just under 10% of revenues) were also down....

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