The same-store sales gain marks a continued turnaround by the electronics retailer. Tweeters' comps jumped 10% in its last quarter, but during the previous financial period, same-store sales slid 3.8%.
The downturn early last year took place as the company closed 19 underperforming stores. Those stores, which accounted for 11% of Tweeter's unit count, were only bringing in 4.7% of the retailer's revenue.
The operator of 157 stores across the country was boosted during its most recent quarter by a stable gross margin and strong sales of digital televisions, which grew by 47% compared to a year ago, executives say. "These results continue to illustrate the success of changes we have made in our marketing campaign as well as in our operations," said Joe McGuire Tweeter's president and chief executive officer, in a statement.
Tweeter will report its full, first-quarter results on Feb. 2. The company operates the Tweeter, hifi buys, Sound Advice, Showcase Home Entertainment and Hillcrest High Fidelity chains.
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