hhgregg, Inc. provided earnings guidance for the fourth quarter and full year ended March 31, 2014. For the quarter, the company 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. Comparable store sales are estimated to have decreased approximately 9.9%, with the appliance category expected to have increased approximately 0.5%, the consumer electronic category expected to have decreased approximately 18.9%, the computing and wireless category expected to have decreased approximately 22.6%, and the home products category expected to have decreased approximately 0.4%. Net loss per diluted share is expected to be $0.25. The net loss includes approximately $4.0 million of pre-tax expenses related to the expected write down of inventory for the planned exit from the contract-based mobile phone business and for the write-off of store fixtures associated with the company's changing product mix. Excluding these non-recurring expenses, adjusted net loss per diluted share is expected to be $0.17 compared to the prior year's fourth quarter adjusted net income per diluted share of $0.31.

For the fiscal year ended March 31, 2014, the company expects to report net sales of approximately $2.3 billion and expects net income per diluted share of $0.01. Adjusted net income per diluted share, which excludes $4.0 million of pre-tax expenses related to the expected write down of inventory and the write off of associated signage and fixtures for the planned exit from the contract-based mobile phone business and for the write-off of store fixtures associated with the Company's changing product mix is expected to be $0.09 compared to prior year adjusted net income per diluted share of $0.74.