Thursday, May 12, 2011

hhgregg, Inc. Announces Conference Call to Discuss Fourth Quarter Operating Results

hhgregg, Inc. Announces Conference Call to Discuss Fourth Quarter Operating Results

INDIANAPOLIS--(BUSINESS WIRE)-- hhgregg, Inc. (NYSE:HGG) today announced that it will be conducting a conference call to discuss its operating results for its fourth fiscal quarter ended March 31, 2011 on Thursday, May 26, 2011 at 9:00 a.m. Eastern Time.

Interested investors and other parties may listen to a simultaneous webcast of the conference call by logging onto the Company's investor relations page at www.hhgregg.com. The call can also be accessed over the phone by dialing (877) 304-8963. Callers should reference the hhgregg fourth quarter earnings call. A replay of the earnings call will be available on the Company's website through June 26, 2011.

About hhgregg

hhgregg is a specialty retailer of consumer electronics, home appliances and related services operating under the name hhgregg™. hhgregg currently operates 175 stores in Alabama, Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia.

Tuesday, February 8, 2011

hhgregg Announces Fiscal Third Quarter Operating Results

hhgregg Announces Fiscal Third Quarter Operating Results

Third Quarter Highlights

* Net sales increased 30.6% to $653.7 million
* Comparable store sales for the fiscal quarter decreased 6.2%
* Net income increased 18.4% to $26.9 million and net income per diluted share increased 15.8% to $0.66
* Company opened 4 new stores in the third quarter for a total of 42 in fiscal year 2011, and remains on track to open a total of 43 new stores in fiscal year 2011
* Company is updating its annual guidance of net income per diluted share to a range of $1.10 to $1.15 in fiscal year 2011 from a previous range of $1.15 to $1.23.

Click here for full release.

Thursday, January 6, 2011

hhgregg Announces Preliminary Fiscal Third Quarter Sales and Updates Fiscal 2011 Guidance; Company Announces Plans to Enter Chicago, Illinois Market

hhgregg Announces Preliminary Fiscal Third Quarter Sales and Updates Fiscal 2011 Guidance; Company Announces Plans to Enter Chicago, Illinois Market

INDIANAPOLIS--(BUSINESS WIRE)-- Indianapolis-based appliance and electronics retailer, hhgregg, Inc. (NYSE:HGG) today announced preliminary sales results for the fiscal third quarter ended December 31, 2010 and updated fiscal 2011 guidance. The company also announced upcoming investor meetings and details of its fiscal third quarter earnings conference call.

For the fiscal third quarter 2011, the Company estimates net sales to be $653.7 million, an increase of approximately 30.6% as compared to the $500.4 million of net sales reported in the fiscal third quarter last year. Fiscal third quarter comparable store sales are estimated to decrease 6.2%, with the video category expected to decrease 5.9%, the appliance category expected to decrease 5.7%, and the other category expected to decrease 7.9%. Fiscal third quarter 2011 earnings were negatively impacted by lower than expected demand in emerging technologies in the video category which led to reduced video margins, as well as continued macro economic pressures on the appliance category.

Dennis May, President and CEO commented, "While we are pleased with our overall sales and market share gains in the video category, our mix of video product was different than our expectations going into the holiday selling season. Industry sales from newer technologies like LED and 3D TV increased less than expected, and our mix of entry point televisions was higher than anticipated which negatively impacted our merchandise gross margin."

All figures in this release are preliminary and remain subject to the completion of normal quarter-end accounting procedures and adjustments, which could result in changes to these preliminary results. Further details of these results will be provided in the company's earnings release and conference call discussed in more detail in this release.

Updated Fiscal 2011 Guidance

In light of the preliminary fiscal third quarter sales results, the Company now anticipates that annual net income per diluted share will be $1.15 to $1.23 in fiscal 2011. This compares to previous guidance of net income per diluted share of $1.30 to $1.45. This updated guidance represents a 11.7% to 19.4% increase over net income per diluted share for the prior year. The Company's revised fiscal 2011 (year ending March 31, 2011) guidance comprises the following:

* fiscal 2011 comparable store sales decrease of negative 3% to negative 1%, as compared to previous guidance of negative 1% to positive 2%
* fiscal 2011 net sales increase of 38% to 40%, as compared to a previous guidance of net sales increase of 40 to 45%
* 43 new store openings in fiscal 2011

FY 2012 Growth Plans

The Company continues to develop its pipeline for new stores for fiscal year 2012. As previously mentioned, the Company expects to open between 35 and 45 new stores in fiscal year 2012. The majority of these openings are expected to be in the following markets:

* Chicago, Illinois
* Miami, Florida
* Western Pennsylvania, including the Pittsburgh, Pennsylvania market

Dennis May, President and CEO commented, "We continue to be pleased with our new store performance despite challenging economy and current industry headwinds. Our new store productivity remains strong and we continue to identify and secure exciting new locations which continue to move us another step closer towards our goal of becoming a national retailer."

Company to Present at 13th Annual ICR XChange Conference

The Company will be presenting at the 13th Annual ICR XChange Conference, held at the St. Regis Monarch Beach Resort and Spa, in Dana Point, California on Wednesday January 12, 2011 at 1:15 p.m. Pacific Time. Dennis L. May, President and Chief Executive Officer and Jeremy J. Aguilar, Chief Financial Officer, will host the presentation. A webcast of the presentation may be accessed at: http://investor.shareholder.com/icr/2011/eventdetail.cfm?eventid=90408 or by accessing the Events section of our investor relations website at: http://ir.hhgregg.com/events.cfm. The webcast will be available until February 12, 2011.

Conference Call to Discuss Full Operating Results for Fiscal Third Quarter 2011

The Company will announce full operating results for its fiscal third quarter 2011 on Tuesday, February 8, 2011. A conference call to discuss the operating results is scheduled to begin at 9:00 a.m. EST on the same day. Interested investors and other parties may listen to a simultaneous webcast of the conference call by logging onto the Company's investor relations page at www.hhgregg.com. The call can also be accessed over the phone by dialing (877) 304-8963. Callers should reference the hhgregg second quarter earnings call. A replay of the earnings call will be available on the Company's website through March 8, 2011.

About hhgregg

hhgregg is a specialty retailer of consumer electronics, home appliances and related services operating under the name hhgregg(TM). hhgregg currently operates 173 stores in Alabama, Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia.

Safe Harbor Statement

The following is a Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This press release includes forward-looking statements. These statements may be identified by the use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "should," or "will," or the negative thereof or other variations thereon or comparable terminology. In particular, statements about the expectations, beliefs, plans, objectives, assumptions or future events or performance of hhgregg, Inc. are forward-looking statements.

hhgregg has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While hhgregg believes these expectations, assumptions, estimates and projections are reasonable, these forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These and other important factors may cause hhgregg's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Some of the key factors that could cause actual results to differ from hhgregg's expectations are: the effect of general and regional economic and employment conditions on its net sales; competition in existing, adjacent and new metropolitan markets; changes in consumer preferences; its ability to effectively manage and monitor its operations, costs and service quality; its reliance on a small number of suppliers; rapid inflation or deflation in core product prices; the failure of manufacturers to introduce new products and technologies; customer acceptance of new technology; its dependence on the Company's key management personnel and its ability to attract and retain qualified sales personnel; its ability to negotiate with its suppliers to provide product on a timely basis at competitive prices; the identification and acquisition of suitable sites for its stores and the negotiation of acceptable leases for those sites; fluctuation in seasonal demand; its ability to maintain its rate of growth and penetrate new geographic areas; its ability to locate suitable new store sites; its ability to obtain additional financing and maintain its credit facilities; its ability to maintain and upgrade its information technology systems; the effect of a disruption at the Company's central distribution centers; changes in cost for advertising; and changes in legal and/or trade regulations, currency fluctuations and prevailing interest rates.

Other factors that could cause actual results to differ from those implied by the forward-looking statements in this press release are more fully described in the "Risk Factors" section in the Company's Annual Report on Form 10-K filed with the Securities Exchange Commission on May 27, 2010. Given these risks and uncertainties, you are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. hhgregg does not undertake, and specifically declines, any obligation to update any of these statements or to publicly announce the results of any revisions to any of these statements to reflect future events or developments.

Tuesday, November 30, 2010

hhgregg Announces 50 Job Openings in Pensacola, FL Area

hhgregg Announces 50 Job Openings in Pensacola, FL Area

Appliance and Electronics Retailer Aims to Fill Available Positions in Sales, Warehouse and Customer Service

INDIANAPOLIS--(BUSINESS WIRE)-- Today, Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG) announced it is seeking enthusiastic, highly motivated residents to fill approximately 50 positions for a new store scheduled to open in the Pensacola, FL area in early 2011.

Positions are available for commissioned sales associates, managers-in-training, warehouse staff and customer service merchandisers for the new store located at 1210 Airport Boulevard, Pensacola, FL 32504.

"We are very excited to continue our ongoing Florida expansion and to serve residents at the new store, and we are seeking talented members of the local community to be part of the hhgregg team and to help make the new store a success," said Dan Turner, Southern Division Vice President, hhgregg. "There are many exciting opportunities at hhgregg for motivated individuals looking to grow with our company. We encourage those with a friendly attitude and a focus on customer service to apply."

Like all hhgregg employees, newly hired associates will undergo a comprehensive training program that includes over 200 hours of product training. The program is designed to ensure each associate is well prepared to answer all product related questions in order to help customers make the best purchase decisions. Each hhgregg store showcases over 100 digital TVs and has more than 500 major appliances in stock every day.

Individuals interested in applying for the open positions are encouraged to visit the "Careers" section on hhgregg's website. An online application and assessment must be completed in order to secure an interview with the company. To apply online, please visit http://www.hhgregg-jobs.com/.

To learn more about upcoming hhgregg store openings, please visit the "hhGO" link on the company's website, http://www.hhgregg.com/, or visit http://www.hhgreggnewstores.com/.

CORPORATE OVERVIEW

hhgregg is a specialty retailer of consumer electronics, home appliances, and related products and services operating under the name hhgregg(TM) and Fine Lines(TM). hhgregg currently operates 173 stores in Alabama, Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia.

Thursday, November 18, 2010

hhgregg Announces Black Friday Deals and Extended Holiday Store Hours

hhgregg Announces Black Friday Deals and Extended Holiday Store Hours

Deals of up to 30% or More on Wide Variety of Televisions, Appliances, Audio Systems, Camcorders, plus storewide savings on cameras, computers, gaming and more

INDIANAPOLIS--(BUSINESS WIRE)-- Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG) today announced hot deals for the holidays, including up to 30% or more off of a wide variety of televisions, appliances, audio systems, camcorders and more starting 4:00 a.m. on Friday, November 26th. All hhgregg stores will open at 4:00 a.m. on Black Friday, and remain open until 9:00 p.m. that night

The hhgregg Black Friday Door Buster deals and special offers include the following:

* 24" 1080P LCD TV for $149.99 (after $30 mail-in rebate)
* 50" Panasonic HDTV for $599.99
* 60" LG HDTV for $999
* Whirlpool Front Load Washer or Dryer for $399.99 each
* LG Blu-ray $59.99 (after $30.00 mail-in rebate)
* Toshiba 15.6" HD widescreen LCD laptop with Sempron processor for $299.99 (after $50 mail-in rebate))
* Microsoft X-Box 360 4GB Kinect Console for $299.99
* Kodak 12MP camera with 3X optical zoom, 3" LCD for $59.99 (after $10 mail-in rebate)

"We are excited to offer holiday shoppers not only these great door buster deals, but a fantastic holiday shopping experience, thanks to our knowledgeable and enthusiastic sales staff," said Jeff Pearson, vice president of marketing for hhgregg.

hhgregg will be open every day during the holiday shopping season, except for November 25th and December 25th with extended holiday store hours. One of the most compelling reasons to shop in stores is the availability of hhgregg's highly trained sales associates that can help customers select the gifts and products that best meet their needs. hhgregg's associates receive more than 200 hours of product training, so they are familiar with the features and benefits of the latest televisions, electronics and appliances. Consumers can also shop 24/7 at hhgregg.com. To learn more about hhgregg's Black Friday sales, please visit http://www.hhgregg.com

CORPORATE OVERVIEW

hhgregg is a specialty retailer of consumer electronics, home appliances, and related products and services operating under the name hhgregg(TM) and Fine Lines(TM). hhgregg currently operates 173 stores in Alabama, Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia.

Tuesday, November 9, 2010

hhgregg Announces Fiscal Second Quarter Operating Results

hhgregg Announces Fiscal Second Quarter Operating Results

Second Quarter Highlights

* Net sales increased 44.8% to $480.9 million
* Comparable store sales for the fiscal quarter decreased 1.5% primarily driven by a 3.9% decrease in the appliance category partially offset by a 1.6% increase in the video category
* Net income decreased 20.4% to $3.9 million and net income per diluted share decreased 23.1% to $0.10
* Company opened 12 new stores in the quarter and remains on track to open a total of 43 new stores in fiscal year 2011
* Company updates its annual guidance of net income per diluted share to $1.30 to $1.45 from previous guidance of net income per diluted share of $1.35 to $1.45

See Full Release Here

Tuesday, November 2, 2010

hhgregg Announces the Grand Opening of Erie, PA Store

hhgregg Announces the Grand Opening of Erie, PA Store

New Store to Offer Wide Selection of Appliances and Electronics

INDIANAPOLIS, Nov 02, 2010 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG) today announced that it will open a new store in Erie, PA on Thursday, November 4th. The new store, located at 7451 Peach Street brings the company's total number of stores in Pennsylvania to 13.

A ribbon-cutting ceremony will take place at 2:45 p.m. on Thursday, followed by the official store opening at 3:00 p.m. hhgregg will hold a Grand Opening sale from November 4th - November 13th, providing local residents with low prices on hhgregg's wide selection of televisions, appliances and electronics. Customers will also be able to take advantage of special financing options on items throughout the store, and will have a chance to register to win a Frigidaire Stainless Steel Appliance Package or a Magellan GPS.

"We are excited about opening a store in Erie and providing consumers with a chance to experience our wide selection of appliances and electronics, and our top notch customer service," said Jeff Pearson, vice president of marketing for hhgregg. "As the holiday season approaches, we hope residents in the Erie area will come into our store and experience all that we have to offer."

Approximately 50 residents have been hired to staff the 30,000 square foot store. Each employee undergoes a comprehensive training program and receives more than 200 hours of product training each year. Like all hhgregg locations, the new Erie store will showcase over 100 digital TVs and has more than 400 major appliances in stock every day.

To learn more about upcoming hhgregg store openings, please visit the "hhGO" link on the company's website, http://www.hhgregg.com/, or visit http://www.hhgreggnewstores.com/.

CORPORATE OVERVIEW

hhgregg is a specialty retailer of consumer electronics, home appliances, and related products and services operating under the name hhgregg(TM) and Fine Lines(TM). hhgregg currently operates 173 stores in Alabama, Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia.