FINANCE

Weather impacts preliminary Hhgregg Q4 sales

BY Dan Berthiaume

Indianapolis – Hhgregg Inc. cited extreme weather as a major factor in preliminary sales declines it reported for the fourth quarter of fiscal 2014. The retailer estimates net sales to be approximately $538.3 million, a decrease of approximately 9.9% as compared to net sales of $597.6 million reported for the fourth fiscal quarter of 2013.

Fourth fiscal quarter comparable store sales are estimated to have decreased approximately 9.9%. In addition to severe weather, during the quarter Hhgregg also decided to exit the contract-based mobile phone business.

“We faced a number of headwinds during the quarter, which led to disappointing financial results,” said Dennis May, president and CEO. “Extreme weather in January, February and the beginning of March negatively impacted traffic and operating performance in the majority of our stores, particularly those located in the Midwest and Mid-Atlantic regions, where the weather was the most severe. While we are disappointed in our preliminary results, we remain focused on executing our strategic initiatives to transform the business by refining our merchandise assortment, improving our customer shopping experience, expanding our credit offerings and enhancing our service capabilities.”

Looking ahead, Hhgregg expects net sales of approximately $2.4 billion for the full fiscal year 2014. The retailer also expects a renewed interest in the video category due to innovation in TVs, and will shift from carrying one furniture brand to five furniture brands by early summer 2014.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
REAL ESTATE

Natural Grocers opens Utah store

BY Dan Berthiaume

Lakewood, Colo. – Natural Grocers by Vitamin Cottage Inc. has opened a store in Logan, Utah. The Logan store is its second Utah location.

"We are thrilled to expand our nutrition expertise and delicious food options to Logan," said Kemper Isely, co-president of Natural Grocers. "We look forward to engaging with the local community about healthy living."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
ECOMMERCE

Eve’s Addiction revamps e-commerce site

BY Dan Berthiaume

Old Saybrook, Conn. — Eve’s Addiction has redesigned its e-commerce site. With more 6,000 items on the site, the Eve’s Addiction team studied Web data from the past year to figure out how to best present their product offerings for the optimal online store experience.

The team eliminated the left navigation from the old design and added a drop down menu that featured gifts by recipients, material, and category. The redesign also highlighted bestselling products and provided a more accessible internal site search. Eve’s Addiction says these changes and many others led to an immediate increase in engagement and satisfaction among shoppers. Future design enhancements are planned.

"Once we understood our customer segments, we planned a simple and comprehensive design that worked well for everyone," said director of site design & front end development Alison Yuhas. "There are self-purchasers, gift purchasers, and other ways to segment our audience. We wanted to deliver the best way for all types of shoppers to interact with our site."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...