Indianapolis-based HHGregg boosted its fourth-quarter profit thanks to 42 stores that opened during 2010, off-setting decreased sales at retail locations operating for more than a year.
The Indianapolis-based appliance and electronics retailer lowered its fiscal 2011 outlook on soft demand for pricier televisions and appliances.
The Indianapolis-based appliance and electronics retailer attributed its lower outlook to weak demand for new video technology products. Sales of LED and 3-D televisions were less than expected while sales of lower-priced TVs were higher than anticipated.
One-time events influenced bottom lines of some of the few companies that made more money in 2009.
Few escaped the Great Recession unscathed, and unusual circumstances helped some appear as though they did.
Marion-based The Cellular Connection expects to add 500 jobs in 15 states as a result of the agreement with HHGregg.
High expectations already are baked into HHGregg Inc.’s stock price, which has doubled since last May. A disappointment could
spawn a sell-off.
HHGregg Inc. had been in business nearly a half century when it hit the 50-store mark in 2004. It plans to open nearly
that number within the next year.
Those in the trenches say this won’t be a blockbuster Christmas, but it won’t be horrid, either.