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What: Shares of appliance and electronics retailer hhgregg (NYSE: HGG) bounced 20% higher today after the company announced fiscal fourth-quarter earnings.

So what: Even though 21.5% revenue growth to $507.0 million lagged analyst estimates, the bottom line blew expectations away. The pros on Wall Street were only expecting $0.29, but the company posted adjusted earnings per share of $0.39 during the quarter.

Now what: Store expansion drove the growth in the quarter, but I am a little concerned to see same-store sales fall 10.8% at stores open at least 14 months. Best Buy (NYSE: BBY) is planning to aggressively go after the appliance business in coming quarters, so the pressure will be on in the future. I'm cautiously optimistic on the quarterly results, but I'm going to need to see existing stores perform better before jumping into a stock bounce like this.

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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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