The decrease in net income for the three-month period was largely due to a comparable stores sales decline of 6.2 percent, partially offset by a decrease in selling, general and administrative expenses, officials said.
Dennis May, the company’s president and chief executive, said h.h. gregg continues to see “headwinds” in its consumer electronics business, but is benefiting from comparative stores sales increases in the appliance category.
“While pleased with our early efforts in reshaping our sales mix, our sales performance continues to demonstrate that this transition will take time as we introduced new products to offset the sales losses from the consumer electronics category,” May said in a statement.
In southwest Ohio, h.h. gregg has stores in Beavercreek, Hamilton, Huber Heights, Miami Twp. and Piqua.
About the Author