10-Q Filing

HHGREGG, INC. CIK: 1396279 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001396279-13-000024`
Period End Date	20130630
Filing Date	20130801
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	hgg-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 34 Cash Flow Statement 74 Stockholders Equity 10

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$59.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$48.59M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.29M	USD	Point-in-time
Accounts receivable-trade, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$33.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.12M	USD	Point-in-time
Accounts receivable-trade, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Accounts receivabletrade, less allowances of $33 and $1 as of June 30, 2013 and March 31, 2013, respectively	`AccountsReceivableNetCurrent`	$24.27M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Accounts receivabletrade, less allowances of $33 and $1 as of June 30, 2013 and March 31, 2013, respectively	`AccountsReceivableNetCurrent`	$37.41M	USD	Point-in-time
Accounts receivableother	`OtherReceivables`	$18.26M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivableother	`OtherReceivables`	$18.75M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Merchandise inventories, net	`InventoryNet`	$349.51M	USD	Point-in-time
Merchandise inventories, net	`InventoryNet`	$315.56M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.83M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.57M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$1.41M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$2.65M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$6.47M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$5.76M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.64M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.83M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$419.91M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$443.24M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	30.96M	shares	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$217.91M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	31.47M	shares	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$212.82M	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNoncurrentNet`	$1.99M	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNoncurrentNet`	$1.83M	USD	Point-in-time
Common stock held in treasury at cost, shares	`TreasuryStockShares`	9.17M	shares	Point-in-time
Common stock held in treasury at cost, shares	`TreasuryStockShares`	9.87M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$35.32M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$35.25M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.35M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.34M	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$251.30M	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$256.51M	USD	Point-in-time
Total assets	`Assets`	$694.54M	USD	Point-in-time
Total assets	`Assets`	$676.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$150.33M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$166.35M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$46.56M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$38.04M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$54.87M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$49.42M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$2.15M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$239.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$267.78M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$77.78M	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$76.70M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$12.04M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$11.38M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$88.09M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$89.82M	USD	Point-in-time
Total liabilities	`Liabilities`	$329.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$355.86M	USD	Point-in-time
Preferred stock, par value $.0001; 10,000,000 shares authorized; no shares issued and outstanding as of June 30, 2013 and March 31, 2013, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $.0001; 10,000,000 shares authorized; no shares issued and outstanding as of June 30, 2013 and March 31, 2013, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $.0001; 150,000,000 shares authorized; 40,827,899 and 40,640,743 shares issued; and 30,957,240 and 31,468,453 outstanding as of June 30, 2013 and March 31, 2013, respectively	`CommonStockValue`	$4.00K	USD	Point-in-time
Common stock, par value $.0001; 150,000,000 shares authorized; 40,827,899 and 40,640,743 shares issued; and 30,957,240 and 31,468,453 outstanding as of June 30, 2013 and March 31, 2013, respectively	`CommonStockValue`	$4.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$291.39M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$287.81M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$154.65M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$153.39M	USD	Point-in-time
Common stock held in treasury at cost, 9,870,659 and 9,172,290 shares as of June 30, 2013 and March 31, 2013, respectively	`TreasuryStockValue`	$95.80M	USD	Point-in-time
Common stock held in treasury at cost, 9,870,659 and 9,172,290 shares as of June 30, 2013 and March 31, 2013, respectively	`TreasuryStockValue`	$106.11M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$346.66M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$338.68M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$694.54M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$676.42M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$524.92M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$489.86M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$370.16M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$343.20M	USD	1 Quarter
Gross profit	`GrossProfit`	$154.76M	USD	1 Quarter
Gross profit	`GrossProfit`	$146.66M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$118.77M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$119.31M	USD	1 Quarter
Net advertising expense	`AdvertisingExpense`	$27.62M	USD	1 Quarter
Net advertising expense	`AdvertisingExpense`	$25.90M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$9.41M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$11.04M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-9.14M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.48M	USD	1 Quarter
Interest expense	`InterestExpense`	$604.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$478.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$5.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-476.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-599.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-9.62M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.08M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-3.92M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-817.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.70M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.26M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.16	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.04	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.16	USD	1 Quarter
Weighted average shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	36.14M	shares	1 Quarter
Weighted average shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	31.26M	shares	1 Quarter
Weighted average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.14M	shares	1 Quarter
Weighted average shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	31.26M	shares	1 Quarter

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.70M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.26M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.04M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.41M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$166.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$166.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.45M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.69M	USD	1 Quarter
Excess tax deficiency (benefit) from stock based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$546.00K	USD	1 Quarter
Excess tax deficiency (benefit) from stock based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-37.00K	USD	1 Quarter
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$76.00K	USD	1 Quarter
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-779.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$741.00K	USD	1 Quarter
Tenant allowances received from landlords	`TenantInducementsFromLandlord`	$1.98M	USD	1 Quarter
Tenant allowances received from landlords	`TenantInducementsFromLandlord`	$555.00K	USD	1 Quarter
Accounts receivabletrade	`IncreaseDecreaseInAccountsReceivable`	$9.14M	USD	1 Quarter
Accounts receivabletrade	`IncreaseDecreaseInAccountsReceivable`	$13.14M	USD	1 Quarter
Accounts receivableother	`IncreaseDecreaseInOtherReceivables`	$2.80M	USD	1 Quarter
Accounts receivableother	`IncreaseDecreaseInOtherReceivables`	$-505.00K	USD	1 Quarter
Merchandise inventories	`IncreaseDecreaseInInventories`	$33.95M	USD	1 Quarter
Merchandise inventories	`IncreaseDecreaseInInventories`	$44.48M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$1.27M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$12.10M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$244.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-730.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.23M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$10.19M	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$7.25M	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$8.52M	USD	1 Quarter
Increase (Decrease) in Income Taxes Payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-2.15M	USD	1 Quarter
Increase (Decrease) in Income Taxes Payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$3.15M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$5.44M	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-1.40M	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-1.65M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$30.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-662.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.18M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-48.86M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.36M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.22M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$17.00K	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.36M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.20M	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$11.20M	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$10.31M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.81M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.17M	USD	1 Quarter
Excess tax (deficiency) benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-37.00K	USD	1 Quarter
Excess tax (deficiency) benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$546.00K	USD	1 Quarter
Net (decrease) increase in bank overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	$4.82M	USD	1 Quarter
Net (decrease) increase in bank overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	$-8.40M	USD	1 Quarter
Net borrowings on inventory financing facility	`ProceedsFromRepaymentsOfNetBorrowingsOnInventoryFinancingFacility`	$11.13M	USD	1 Quarter
Net borrowings on inventory financing facility	`ProceedsFromRepaymentsOfNetBorrowingsOnInventoryFinancingFacility`	$13.64M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.93M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.11M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-25.47M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-54.95M	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$59.24M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$48.59M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.29M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.12M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$59.24M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$48.59M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$4.29M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$23.12M	USD	Point-in-time
Interest paid	`InterestPaid`	$428.00K	USD	1 Quarter
Interest paid	`InterestPaid`	$29.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$3.38M	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$6.89M	USD	1 Quarter
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$2.07M	USD	1 Quarter
Capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$5.29M	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$346.66M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$338.68M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-5.70M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.26M	USD	1 Quarter
Exercise of stock options and vesting of RSUs	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.17M	USD	1 Quarter
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.45M	USD	1 Quarter
Excess tax deficiency from stock-based compensation, net	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$-37.00K	USD	1 Quarter
Repurchase of common stock	`TreasuryStockValueAcquiredCostMethod`	$10.31M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$346.66M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$338.68M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.