The gain reversed a $1.4 million loss of a year earlier. The Indianapolis-based appliance and electronics chain attributed the improvement to strong growth in comparable stores and rising gross profit, among other factors.
Comparable-store sales increased 8.8 percent mostly due to higher average selling prices for such big-ticket items as video and major appliances.
Gregg, which operates more than 400 stores, launched its long-anticipated IPO on July 20 at $13 a share. The stock closed at $13.41 yesterday.