The Indianapolis-based appliance, electronics and furniture retailer suffered through a tough end-of-the-year quarter that couldn’t be rescued by holiday shoppers.
Shares of The Finish Line Inc., HHGregg Inc. and The Shoe Carnival Inc. all have lost value this year and are trailing major stock indexes by a wide margin.
The company lost more than $10 million in its latest quarter as it saw comparable-store sales fall in every product category except home products.
HHGregg Inc. lost more money than expected in its latest quarter as sales slumped dramatically, the Indianapolis-based appliance, electronics and furniture retailer reported Thursday morning.
HHGregg's high-end-appliance Fine Lines stores are shifting into the spotlight as the struggling retailer looks for ways to offset declining consumer electronics sales.
The lawsuit now includes 62 current and former HHGregg employees who claim they were denied incentive bonuses totaling about $5 million.
The Indianapolis-based retailer is going back to Zimmerman Advertising a year after parting ways with the firm and just two months after unveiling a “brand transformation.”
The company scarfed up $49 million of its stock under a buyback program that ran from May 2013 to May 2014. And last month, the company launched a new buyback program, this one for $40 million.
The electronics and appliance chain has unveiled a new logo and advertising spots, in addition to improvements to its website and delivery service, as it attempts to keep pace with competitors.
The Indianapolis-based retailer announced disappointing preliminary sales figures on Tuesday morning for its fiscal fourth quarter, which it blamed on horrendous weather in major markets.