Tuesday, February 19, 1:13 PM
Electronics retailers continue to shift store space to refrigerators and furniture as they seek avenues of profitability. Though hhgregg (HGG +4.4%) has made the most dramatic product strategy changes to date, analysts think Best Buy (BBY +3.4%) and RadioShack (RSH +2.8%) won't be too far behind to enter more aggressively into the turf of Sears (SHLD +1.1%) and Home Depot.
3 Comments[Consumer]
Thursday, January 31, 2:28 PM
hhgregg (HGG +10.6%) will continue to shift its focus away from electronics and video to home appliances and products as it hopes to bring significant profitability back into the picture. The retailer's turnaround probably won't be the quickest in history. For FY13, it forecasts comparable store sales will fall between 8.5% to 7.5%.
1 Comment[Consumer, On the Move]
Thursday, January 31, 7:11 AMHHGregg (HGG): FQ3 EPS of $0.52 in-line. Revenue of $799.6M (-3.6% Y/Y) misses by $4.23M. (PR)
Comment![Earnings, Breaking News]
Monday, January 14, 8:26 AM
More on hhgregg's (HGG) sales report: The company notes declining demand for flat screen TVs and a broadened distribution channel for large-screen TVs cut into store traffic and sales. As a result, the retailer's video category saw sales tail off 24.6% Y/Y. HGG -6.0% premarket.
3 Comments[Consumer, On the Move]
Monday, January 14, 8:21 AM
hhGregg (HGG) announces preliminary results for FQ3, saying total sales fell off 3.6% Y/Y to $799.6M as comparable-store sales dropped 9.7%. The company says it earned $0.52 a share during the period, below the consensus mark of analysts calling for $0.59. For FY13, the retailer expects EPS of $0.70-$0.80 vs. prior guidance of $0.90-$1.05. Shares of HGG -6.1% premarket.
Comment![Consumer, On the Move]
Thursday, January 10, 12:59 PM
Electrics retailers move higher with shares of hhgregg (HGG +10.6%) reaching their highest level in close than a month while Conn's (CONN +1.1%) and Best Buy (BBY +4.5%) post more moderate gains. Indications Richard Schulze is still pushing due diligence forward for a Best Buy takeover and the ability of Supervalu to finalize its own sale of assets helped raised the profile of the group, according to traders.
Comment![Consumer, On the Move]
Thursday, December 13, 2012, 10:37 AM
RadioShack (RSH +3.6%), hhgregg (HGG +2.6%), and Conn's (CONN +1.6%) trade higher as the reality that a struggling big box retailer can attract a buyer helps buoy sentiment a bit. The three haven't attracted M&A buzz of note, but shares tend to get pulled by gravity when Best Buy moves.
Comment![Consumer, On the Move]
Wednesday, November 21, 2012, 4:14 PM
After pegging Y/Y growth at 16% for the first 18 days of November, comScore thinks U.S. e-commerce spending will rise 17% Y/Y in November and December. That's above the 15% holiday season growth estimated by Forrester, and also the 15% growth assigned by comScore for Q3. Mobile activity seems to be accelerating a long-term trends: an October survey of U.S. smartphone/tablet owners found 55% claiming they plan to use their devices to shop this holiday season. (eBay mobile use)
Comment![Tech, Consumer]
Tuesday, November 20, 2012, 12:58 PM
Big box busts: RadioShack (RSH -3%), hhgregg (HGG -1.7%), and Conn's (CONN -1%) trades lower after Best Buy sets the bar even lower in the sector with broad sales declines and decreasing margins pressuring cash flow. The firms have put in a spirited effort to turn things around with mobile initiatives and an increased focus on online channels, but the math is working against them with square footage costs a heavy load to bear.
Comment![Consumer, On the Move]
Tuesday, November 20, 2012, 9:05 AM
RadioShack (RSH), Conn's (CONN), and hhgregg (HGG) are on watch after Best Buy's quarterly report doesn't provide anything particularly uplifting for the sector. As for the holiday shopping season set to launch, recent scans of the promotional activity of the big box retailers shows they are all pushing margins to the limit to get traffic inside of stores.
Comment![Consumer]