Tuesday, November 14, 2006
Compiled by Tom Spalding & Jill Phillips from staff & wire reports.
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Gregg Appliances swings to profit in 2nd quarter
Indianapolis-based Gregg Appliances Inc. swung to a profit of $3.5 million in its second quarter, up from a loss of $4.2 million for the same period a year ago. Total sales at its H.H. Gregg and Fine Lines stores increased 11.7 percent to $237.7 million from $212.9 million. The company attributed the increase to the addition of 10 stores during the past 12 months and an increase in comparable store sales of 1.2 percent from the same period a year ago. The comparable store sales performance was driven by gains in major appliances, bedding and video, with flat panel television sales growth outpacing the sales decline in projection and tube televisions, the company said in a statement.
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