hhgregg, Inc. provided sales guidance for the third quarter ended December 31, 2016. For the third fiscal quarter of 2017, the company estimates net sales to be approximately $453 million, a decrease of approximately 24% as compared to net sales of $593 million reported for the third fiscal quarter of 2016. Third fiscal quarter comparable store sales are estimated to have decreased approximately 22%, with the appliance category estimated to have decreased approximately 4%, the consumer electronics category estimated to have decreased approximately 39%, the home products category estimated to have decreased approximately 9%.

The company expects to incur a non-cash charge for asset impairment of certain locations in the quarter ended December 31, 2016. The company expects the impact of this non-cash pre-tax charge to be in the range of $7 million to $12 million and is currently finalizing that determination. The impairment charge is based on current trends in certain under-performing markets and the lack of visibility to the recoverability of the assets associated with those locations.