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hhgregg, Inc. Message Board

  • taexpert928 taexpert928 Aug 6, 2012 8:11 PM Flag

    CFO: We seek shareholder value along with zero debt

    This is from CC transcript of 8/2/12 answering UBS analyst question. He said:

    1) HGG seeks shareholder value along with zero debt
    2)Opening of new stores will slow
    3)HGG will continue its $50M shares repurchase plan

    Jeremy J. Aguilar (CFO)

    Yes, Michael, it's Jeremy. It is a great question. We've tried to remain balanced from our approach at looking at deployment of capital for long-term shareholder value, along with managing liquidity needs and some of the capital resources that we needed to deploy into the market, largely new stores. One of the things we talked about is we would expect that new stores would slow to some extent and would be largely just some minimal efforts into back-selling of markets. So from that perspective, we would expect, moving forward after this year, that capital deployment for new stores, would flow to a degree. Clearly, we've been active in our share repurchase program and believe that, that has been accretive and will continue to be accretive of those measures that we took last year as well as this first quarter. But we really look towards balancing, stay flexible in our liquidity position. The company has no long-term debt. And really, we remain fairly conservative around our approach of capital structure and cash generation, but believe very strongly about the cash proceeds from the business.

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