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.
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.
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.
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.