Gregg posts sales increase on new stores

Gregg Appliances Inc. posted third-quarter profit of $10.9 million, down from $22.6 million a year ago. Last year’s period included a nearly $28 million pretax gain for the Indianapolis-based electronics and appliance retailer.

Sales in the third quarter ended Dec. 31 were up 19.2 percent, to $335.1 million due to opening seven stores over the past year and a same-stores sales gain of 5.6 percent in the quarter.