The appliance and electronics retailer is quietly launching a test of furniture and fitness equipment, with rollouts scheduled for 31 of its more than 200 stores.
Disappointing sales at stores open at least a year dragged Indianapolis-based HHGregg Inc. to a rare quarterly loss, the appliance and electronics retail chain said on Thursday.
Performance varied widely as industries ebbed, flowed.
The Indianapolis-based appliance and electronics retailer on Wednesday reported fiscal quarterly profit of $53.6 million, including $39.6 million from a life insurance policy the company took out on former executive chairman Jerry W. Throgmartin.
HHGregg has collected a $40 million payout from a life insurance policy it took out on former executive chairman Jerry W. Throgmartin, who died in January after a sudden illness.
The appliance and electronics retailer attributed the decline to lower-than-expected profit margins and higher spending on advertising.
Meningitis, a rare disorder caused by an infection of the membranes covering the brain and spinal cord, usually can be treated but is sometimes fatal.
Jerry Throgmartin helped transform HHGregg from a local electronics retailer into a national player with more than $2 billion in revenue. He died over the weekend while visiting his ranch in Colorado.
Jerry Throgmartin, 57, died Jan. 22, 2012, at the age of 57. His family said he died from complications of meningitis—an infection that leads to inflammation of the membranes covering the brain and spinal cord.
Traditional retailers are trying to connect with customers, however and whenever they want to do business.
The Indianapolis-based retailer launched its first national advertising campaign using the tagline “We Help” and the Beatles song “Help!” as its soundtrack.