About Hhgregg, Inc.

The are no capitals in hhgregg's name, but its stores are capitols of appliances and electronics for Southerners and Midwesterners. The company sells a range of goods in nearly 230 stores in 20 US states and online. It offers TV and video products (LED TVs, Blu-ray disc players), home and car audio gear (CD players, home theater systems), appliances (refrigerators, washers and dryers), computers, gaming consoles, digital cameras, GPS navigators, and mattresses. The company also offers installation and tech services. Founded in 1955, Indianapolis-based hhgregg has expanded from southern states to the Midwest and mid-Atlantic regions. More than half of its revenue comes from appliance sales.

Operations

Home appliances represent about 53% of sales with consumer electronics generating 36%. The size of hhgregg stores average around 31,000 sq. ft. By comparison, Best Buy stores average about 41,000 sq. ft.

Geographic Reach

hhgregg operates stores in Alabama, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Maryland, Mississippi, Missouri, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, West Virginia, and Wisconsin. Florida, with 36 stores, is the retailer's largest market, followed by Ohio with 28 and Illinois and Pennsylvania with 19 each. The company can reach customers around the country through its website.

Financial Performance

The hhgregg's revenue has dropped since 2013 and in 2016 (ended March) it fell below the $2 billion mark, landing at $1.9 billion. Revenue was 8% lower than in 2015. The company had lower same-store sales in 2016 as sales of consumer electronics decreased. It sold fewer units of TVs although many of them had bigger screen sizes and more features than previous years.

The retailer reduced its loss to about $55 million in 2016 from about $133 million in 2015 by cutting selling, general and administrative costs, which included lower labor costs. The company also saved by increasing routing efficiency for deliveries and lower fuel prices.

Cash outflow reached $21.8 million in 2016, compared to cash flow from operations of about $13 million in 2015.

Strategy

hhgregg is giving its customers more opportunities to buy from it through a multi-channel strategy it calls Store2Door service. Customers can buy in store or online and pick up the item in a store or have it delivered. The company has expanded its online-only product line and added mobile phone apps, and an online financing application process. It has invested in upgrading its IT infrastructure.

To enhance its selection of appliances, hhgregg has rolled out Fine Lines departments in a number of its stores. Fine Lines display ultra-premium appliance brands(Sub-Zero, Bosch, and  Asko, for example) that aren't sold in hhgregg stores. It had Fine Lines in 11 stores at the end of its 2016 year and planned to open more than a dozen in 2017.

The company reworked the layout of 25 stores in 2016 to better display its wares in a more visually appealing manner as well as to show product functionality. Furniture and appliance displays were placed in prominent spots in the front of stores. hhgregg planned to redesing as many as 100 stores before the holiday selling season.

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Hhgregg, Inc.

4151 E 96th St
Indianapolis, IN 46240-1414
Phone: 1 (317) 848-8710
Fax: 1 (317) 817-6607

Stats

  • Employer Type: Public
  • President and CEO: Robert J. Riesbeck
  • Chairperson: Catherine A. Langham
  • President and CEO: Robert J. Riesbeck

Major Office Locations

  • Indianapolis, IN

Other Locations

  • Birmingham, AL
  • Hoover, AL
  • Huntsville, AL
  • Mobile, AL
  • Montgomery, AL
  • Dover, DE
  • Newark, DE
  • Wilmington, DE
  • Boca Raton, FL
  • Bradenton, FL
  • Clearwater, FL
  • Daytona Beach, FL
  • Fort Lauderdale, FL
  • Fort Myers, FL
  • Gainesville, FL
  • Hialeah, FL
  • Hollywood, FL
  • Jacksonville, FL
  • Jensen Beach, FL
  • Melbourne, FL
  • Miami, FL
  • Naples, FL
  • Ocala, FL
  • Orlando, FL
  • Pembroke Pines, FL
  • Pensacola, FL
  • Plantation, FL
  • Sanford, FL
  • Sarasota, FL
  • Spring Hill, FL
  • Tallahassee, FL
  • Tampa, FL
  • Wellington, FL
  • West Palm Beach, FL
  • Alpharetta, GA
  • Atlanta, GA
  • Augusta, GA
  • Buford, GA
  • Columbus, GA
  • Douglasville, GA
  • Duluth, GA
  • Ellenwood, GA
  • Fayetteville, GA
  • Kennesaw, GA
  • Lithonia, GA
  • Macon, GA
  • Morrow, GA
  • Newnan, GA
  • Savannah, GA
  • Smyrna, GA
  • Snellville, GA
  • Arlington Heights, IL
  • Aurora, IL
  • Bloomingdale, IL
  • Champaign, IL
  • Downers Grove, IL
  • Geneva, IL
  • Gurnee, IL
  • Joliet, IL
  • Naperville, IL
  • Niles, IL
  • Norridge, IL
  • Orland Park, IL
  • Riverside, IL
  • Rockford, IL
  • Schaumburg, IL
  • Vernon Hills, IL
  • Anderson, IN
  • Avon, IN
  • Bloomington, IN
  • Clarksville, IN
  • Evansville, IN
  • Fort Wayne, IN
  • Highland, IN
  • Kokomo, IN
  • Lafayette, IN
  • Merrillville, IN
  • Muncie, IN
  • Noblesville, IN
  • Richmond, IN
  • Terre Haute, IN
  • Bowling Green, KY
  • Elizabethtown, KY
  • Florence, KY
  • Lexington, KY
  • Louisville, KY
  • Harvey, LA
  • Metairie, LA
  • Baltimore, MD
  • Bel Air, MD
  • Brandywine, MD
  • Frederick, MD
  • Glen Burnie, MD
  • Hagerstown, MD
  • Hanover, MD
  • Rockville, MD
  • Towson, MD
  • Upper Marlboro, MD
  • Waldorf, MD
  • Chesterfield, MO
  • Fenton, MO
  • Saint Peters, MO
  • Southaven, MS
  • Apex, NC
  • Asheville, NC
  • Charlotte, NC
  • Concord, NC
  • Durham, NC
  • Greensboro, NC
  • Hickory, NC
  • Matthews, NC
  • Mooresville, NC
  • Raleigh, NC
  • Wilmington, NC
  • Winston Salem, NC
  • Moorestown, NJ
  • Trenton, NJ
  • Woodbury, NJ
  • Beavercreek, OH
  • Canton, OH
  • Chillicothe, OH
  • Cincinnati, OH
  • Cleveland, OH
  • Columbus, OH
  • Copley, OH
  • Cuyahoga Falls, OH
  • Dayton, OH
  • Grove City, OH
  • Hamilton, OH
  • Hilliard, OH
  • Huber Heights, OH
  • Mentor, OH
  • Newark, OH
  • North Olmsted, OH
  • Ontario, OH
  • Piqua, OH
  • Reynoldsburg, OH
  • Saint Clairsville, OH
  • Urbancrest, OH
  • Youngstown, OH
  • Zanesville, OH
  • Berwyn, PA
  • Cranberry Township, PA
  • Erie, PA
  • Harrisburg, PA
  • Lancaster, PA
  • Langhorne, PA
  • Mechanicsburg, PA
  • Philadelphia, PA
  • Pittsburgh, PA
  • West Mifflin, PA
  • Whitehall, PA
  • Wilkes Barre, PA
  • Wyomissing, PA
  • York, PA
  • Anderson, SC
  • Columbia, SC
  • Fort Mill, SC
  • Greenville, SC
  • Myrtle Beach, SC
  • North Charleston, SC
  • Spartanburg, SC
  • Chattanooga, TN
  • Clarksville, TN
  • Franklin, TN
  • Johnson City, TN
  • Knoxville, TN
  • Madison, TN
  • Memphis, TN
  • Mount Juliet, TN
  • Murfreesboro, TN
  • Nashville, TN
  • Chesapeake, VA
  • Colonial Heights, VA
  • Fairfax, VA
  • Falls Church, VA
  • Manassas, VA
  • Midlothian, VA
  • Newport News, VA
  • Richmond, VA
  • Roanoke, VA
  • Springfield, VA
  • Virginia Beach, VA
  • Winchester, VA
  • Woodbridge, VA
  • Green Bay, WI
  • Greenfield, WI
  • Milwaukee, WI
  • Racine, WI
  • Vienna, WV
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