Appliance retailers are poised to take a page from the car dealership playbook in promoting a new government program offering
rebates on energy-efficient washers, refrigerators and air conditioners.
HHGregg Inc. shares have enjoyed a spectacular runup this year. But the company’s biggest shareholder is making a
huge bet that the good times are only beginning.
The fast-growing locally based electronics retailer HHGregg Inc. has seen its stock price rocket more than 80 percent this year as it moves to take advantage of the bankruptcy liquidation of rival Circuit City.
HHGregg Inc. said this morning it projects fiscal first-quarter profit to beat analyst expectations despite shrinking revenue
and a sharp decline in same-store sales.
HHGregg Inc. said this morning that the bankruptcy of competitor Circuit City should enable the company to open more stores
within the next few years than previously expected.
Electronics retailer HHGregg Inc. has snapped up at least a dozen former Circuit City and Linens & Things locations in six states and is eyeing more of the empty big boxes in an opportunistic move toward expansion.
Dennis May, 41, slated to take over as HHGregg CEO in August, vows to continue growing what is already the nation’s largest
regional electronics player.
Company officials think HHGregg is well-positioned to fill the void that Circuit City Stores Inc. will leave when its stores are closed.
Undeterred by a rocky economy, locally based electronics retailer HHGregg is trailblazing into new markets on a quest to quadruple
in size. The firm’s “price and advice” mantra seems to be catching on. That’s no surprise to Jerry Throgmartin, a 33-year
veteran of Gregg who has served as the company’s chairman and CEO since 2003.
Hhgregg’s decision to take its $20-million-plus advertising account out of state is sending shock waves through the local
creative community. The Indianapolis-based electronics and appliance retailer’s longtime agency of record, Pearson McMahon
Fletcher England, will lose a third of its staff as a result, including three of five active partners.
HH Gregg–under increasing market pressure–has put its multimillion-dollar advertising account up for bid, and Pearson McMahon
Fletcher England this month decided not to pursue the contract it has held for an unprecedented 24 years.
Locally based Gregg Appliances Inc. found itself flat-footed last holiday season when consumers demanded flat-panel TVs. The
popular televisions were in short supply at H.H. Gregg stores. This year, Gregg has bet on a huge selection of flat-panel
TVs to buoy sales.
