Thursday, November 19, 2009

hhgregg Announces the Availability of Etón Emergency Radios in Stores

hhgregg Announces the Availability of Etón Emergency Radios in Stores
American Red Cross-Branded Radios Provide Instant Access to Weather and Emergency Information

INDIANAPOLIS, Nov 19, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leader hhgregg and the design-driven leader in portable radios, Etón Corporation, have announced that the American Red Cross brand of Etón emergency radios are now available in all hhgregg stores. The small, handheld radios provide instant access to news, weather and emergency alerts so that consumers can be prepared and informed during a wide range of emergencies.

With no batteries needed, a built-in flashlight and cell-phone charger, American Red Cross radios by Etón are a critical part of the emergency preparedness kits for homes and offices. The radios receive AM/FM and NOAA signals, providing instant access to local news, severe weather and other emergency alerts.

"We are pleased to be carrying several different models of American Red Cross emergency radios in our stores," said Jeff Pearson, Vice President of Marketing, hhgregg. "With the holiday season upon us and winter weather coming soon, we feel this is an important device for consumers to own, and a practical holiday gift to give to friends and family members."

The American Red Cross radios have multiple power sources, including solar and crank dynamo power, and can charge popular devices such as the Apple iPod, iPhone, and Blackberry via USB jack.

"Our mission is to provide consumers with the most current and critical information on the airwaves," said Esmail Amid-Hozour, CEO of Etón Corporation. "An American Red Cross emergency radio is an essential part of any emergency preparedness kit, and we hope that by offering our line of radios in hhgregg stores this season that more consumers will be inspired to purchase one for their families and friends."

The American Red Cross and Etón recently launched a new initiative to further promote preparedness and peace of mind through its "Do More Than Cross Your Fingers" campaign. A portion of the sale of each American Red Cross radio is donated back to the American Red Cross in an effort to help build stronger relationships with communities across the nation.

About hhgregg

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 128 stores in Alabama, Florida, Georgia, Indiana, Kentucky, Mississippi, North Carolina, Ohio, South Carolina, Tennessee and Virginia. For more information visit www.hhgregg.com

About Etón Corporation

Etón Corporation is an established leader in consumer electronics radio products. Etón is always "re-inventing" radio. Its mission is to give the world access to news and information, anytime, anywhere. We strive to empower our customers with the most current information on the airwaves. Our goal is to transcend boundaries, so our radios offer world-wide access to the information everyone needs to hear. For more information visit www.etoncorp.com

Wednesday, November 18, 2009

hhgregg Announces the Grand Opening of Two New Stores in Richmond, VA

hhgregg Announces the Grand Opening of Two New Stores in Richmond, VA
Stores to Feature Wide Selection of Brand Name Appliances and Electronics

INDIANAPOLIS, Nov 18, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG) today announced the opening of two new stores in the Richmond, VA area on Thursday November, 19th. The two stores are the first to open in Virginia and are located in Short Pump at 11732 West Broad Street, Henrico and in Chesterfield Town Center at 1321 Huguenot Road, Midlothian. A ribbon-cutting ceremony for each store will take place at 2:45 p.m. on Thursday, followed by the official store openings at 3:00 p.m.

"We are very excited to be opening our first stores in Virginia," said Jeff Pearson, vice president of marketing, hhgregg. "Shoppers can expect to see a wide selection of electronics and appliances at competitive prices, along with top-notch customer service from our knowledgeable sales team. The opening of these new stores demonstrates our commitment to the mid-Atlantic region and will give Richmond-area residents a convenient place to shop for all of their electronics needs, just in time for the holidays."

About one hundred local residents have been hired to staff the two Richmond stores, and additional temporary employees have been hired for the holiday season. The 43,000 square foot Chesterfield store includes a Regional Training Center that will be used to train future managers and associates throughout the mid-Atlantic region. hhgregg employees all undergo a comprehensive training program and receive more than 200 hours of training each year.

A Grand Opening sale will be held at each new store from November 19th - 25th, providing low prices on televisions, appliances and electronics throughout the store.

To celebrate the new stores, and introduce more consumers to hhgregg, the Company will launch its "Show Me Your State" Facebook photo contest to all Virginia residents from November 19th - 26th. Residents simply download a picture of hhgregg's mascot, "hh," take a picture of him at their favorite location in Virginia, and post it to his Facebook page for a chance to win a high-end digital camera. For official rules, please visit: www.hhgregg.com/ShowMeYourState

CORPORATE OVERVIEW

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 128 stores in Alabama, Florida, Georgia, Indiana, Kentucky, Mississippi, North Carolina, Ohio, South Carolina, Tennessee and Virginia.

Wednesday, November 11, 2009

hhgregg Announces Grand Opening of New Nashville, TN Location

hhgregg Announces Grand Opening of New Nashville, TN Location

New Store to Provide Shoppers with a Modern Shopping Experience; Company Announces Top Holiday Gift Items

INDIANAPOLIS, Nov 11, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG) announced today that it will open a new location in Nashville, Tennessee on Thursday, November 12th. The new store, located at 719 Thompson Lane in the One Hundred Oaks Shopping Center, will replace hhgregg's older location on 523 Thompson Lane. A ribbon-cutting ceremony will be held at 2:45 p.m. on Thursday, followed by the official store opening at 3 p.m.

The new 28,137 square foot store provides local residents with an updated shopping experience and offers the same knowledgeable sales staff to help customers make the best purchase decisions. Shoppers can browse through more than 500 brand name appliances and electronics to find some of the holiday season's hottest gifts including:

* Samsung 55" Class 1080p 120Hz LED HDTV with 4 HDMI Inputs
* 10.1" Acer Aspire One netbook
* Garmin nüvi(R) Portable GPS with 4.3" Touchscreen
* Samsung TL225 Front-LCD Camera
* LG Blu-ray Disc(TM) Player with Integrated WiFi Connectivity

"The store's new design will provide shoppers in the Nashville area with an easier, more convenient holiday shopping experience," said Jeff Pearson, vice president of marketing, hhgregg. "We hope that shoppers will come into the store to see the new layout and take advantage of the competitive pricing on our most popular holiday items."

To celebrate the city's newest location, all hhgregg stores located in the Nashville area including Clarksville and Murfreesboro will participate in a Grand Opening Sale from November 12th - November 21st. Customers will be able to take advantage of low prices and special financing options on a wide variety of items, and will have a chance to register to win a Frigidaire Stainless Steel Appliance Package or a Magellan GPS.

In conjunction with the Grand Opening, hhgregg will launch its "Show Me Your State" Facebook photo contest to all Nashville residents from November 12th - November 26th. Residents simply download a picture of hhgregg's mascot "hh," take a picture of him at their favorite location in Nashville, and post it to his Facebook page for a chance to win a high-end digital camera. For official rules, please visit: www.hhgregg.com/ShowMeYourState

CORPORATE OVERVIEW

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 126 stores in Alabama, Florida, Georgia, Indiana, Kentucky, Mississippi, North Carolina, Ohio, South Carolina and Tennessee. For more information visit www.hhgregg.com

Thursday, November 5, 2009

hhgregg Announces Fiscal Second Quarter Operating Results

hhgregg Announces Fiscal Second Quarter Operating Results

Second Quarter Highlights

* Net income per diluted share increases 30% over the prior year to $0.13
* Net sales increase 3.7% to $332.2 million; comparable store sales decrease 9.4%
* Gross profit margin remains consistent with the prior year period
* Seven new stores opened during the quarter
* Company tightens net income per diluted share guidance range for fiscal year 2010 to $0.90 - $1.00, from previous range of $0.85 - $1.00

View the full release at ir.hhgregg.com

Wednesday, October 28, 2009

hhgregg Announces the Opening of Two Stores in the Memphis Market

hhgregg Announces the Opening of Two Stores in the Memphis Market

First hhgregg Store Opens in Mississippi

INDIANAPOLIS, Oct 28, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG) today announced that it will open two stores in the Memphis, TN market on Thursday October, 29th. The new stores are located at 8045 Giacosa Drive in Memphis and 6680 Southcrest Pkwy in Southaven, Mississippi. The Southaven store is hhgregg's first store in the state of Mississippi.

"hhgregg is excited to be expanding in the Memphis market and opening our first store in the state of Mississippi," said Jeff Pearson, vice president of marketing, hhgregg. "We think residents in the area will be pleased with the wide selection of appliances and electronics on display at our stores, and hope that they will enjoy our friendly and professional customer service."

A ribbon-cutting ceremony for the stores will take place at each location at 2:45 p.m. on Thursday, followed by the official store openings at 3 p.m. Grand Opening sales will be held at each new store from October 29th - November 7th, providing low prices on hhgregg's wide selection of televisions, appliances and electronics.

To celebrate the new stores, and introduce more consumers to hhgregg, the Company will launch its "Show Me Your State" Facebook photo contest to Tennessee and Mississippi residents from October 29th - November 12th. Residents simply download a picture of hhgregg's mascot, "hh," take a picture of him at their favorite location in the state, and post it to his Facebook page for a chance to win a high-end digital camera. For official rules, please visit: www.hhgregg.com/ShowMeYourState

CORPORATE OVERVIEW

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 126 stores in Alabama, Florida, Georgia, Indiana, Kentucky, Mississippi, North Carolina, Ohio, South Carolina and Tennessee.

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

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

INDIANAPOLIS, Oct 27, 2009 (BUSINESS WIRE) -- hhgregg, Inc. (NYSE:HGG) today announced that it will be conducting a conference call to discuss its operating results for its second fiscal quarter ended September 30, 2009 on Thursday, November 5, 2009 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 ir.hhgregg.com. The call can also be accessed over the phone by dialing (877) 397-0300. Callers should reference the hhgregg second quarter earnings call. A replay of the earnings call will be available on the Company's website through December 5, 2009.

About hhgregg

hhgregg is a specialty retailer of consumer electronics, home appliances, and related products and services operating under the name hhgregg(TM). hhgregg currently operates 126 stores in Alabama, Florida, Georgia, Indiana, Kentucky, Mississippi, North Carolina, Ohio, South Carolina and Tennessee.

Monday, October 19, 2009

hhgregg Announces the Grand Opening of Six New Stores in the Tampa, Florida Area

hhgregg Announces the Grand Opening of Six New Stores in the Tampa, Florida Area

Stores to Feature Wide Selection of Brand Name Appliances and Electronics

INDIANAPOLIS, Oct 13, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG) today announced the opening of six new stores in the Tampa, Florida area on Thursday October, 15th. The new stores are located in Hillsborough, Sarasota, Clearwater, Bradenton, Brooksville, and Brandon. With these openings, the company now operates 20 stores in Florida, employing 650 residents. A simultaneous ribbon-cutting ceremony for the stores will take place at 2:45 p.m. on Thursday, followed by the official store openings at 3:00 p.m.

"We're very excited about our continued expansion in Florida," said Jeff Pearson, vice president of marketing, hhgregg. "Shoppers in the Tampa market can expect to see a wide selection of electronics at competitive prices, along with top-notch customer service from our knowledgeable sales team. The opening of these new stores demonstrates our commitment to expand our business and gain market share."

A Grand Opening sale will be held at each new store from October 15th - 24th, providing low prices on televisions, appliances and electronics throughout the store. The Lakeland store, located at 4000 US Hwy 98 North, will also participate in the Grand Opening sale.

To celebrate the new stores, and introduce more consumers to hhgregg, the Company will launch its "Show Me Your State" Facebook photo contest to all Florida residents from October 15th - 22nd. Residents simply download a picture of hhgregg's mascot, "hh," take a picture of him at their favorite location in Florida, and post it to his Facebook page for a chance to win a high-end digital camera. For official rules, please visit: www.hhgregg.com/ShowMeYourState

The locations of the new stores are as follows:

hhgregg in Hillsborough/Bruce B. Downs

The Hillsborough/Bruce B. Downs store is located at 6250 Commerce Palms Drive in the Market Square at Tampa Palms plaza.

hhgregg in Sarasota

The Sarasota store is located at 5511 Fruitville Road in the Sarasota Crossings plaza.

hhgregg in Clearwater

The Clearwater store is located at 2669 Gulf to Bay Blvd.

hhgregg in Bradenton

The Bradenton store is located at 4495 14th Street West in the Cortez Plaza.

hhgregg in Brooksville/Spring Hill

The Brooksville/Spring Hill store is located at 13199 Cortez Blvd.

hhgregg in Brandon

The Brandon store is located at 10277 East Adamo Drive.

CORPORATE OVERVIEW

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 124 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

Monday, October 5, 2009

hhgregg Announces 80 Job Openings in Richmond, VA

hhgregg Announces 80 Job Openings in Richmond, VA

Job Fair Aims to Fill Available Positions in Sales, Warehouse and Management

INDIANAPOLIS, Oct 02, 2009 (BUSINESS WIRE) -- Today,Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG) announced it will host a job fair to fill approximately 80 positions for two new stores scheduled to open in Richmond, VA this Fall. The job fair will be held at The Hotel Sierra, 11800 West Broad Street, Suite 1098, Richmond, VA from October 5th - 17th. The fair will be open Monday through Friday from 9:00am-6:00pm and Saturday from 9:00am-2:00pm.

"Our highly trained, professional sales associates and managers are known to have some of the best skills in the industry," said Andrew Eaton, regional manager, hhgregg. "We look forward to meeting friendly and motivated individuals in the Richmond area during our job fair, and expanding our hhgregg team."

Applications for commissioned sales associates, warehouse staff, customer service merchandisers and manager- in-training positions will be accepted. Sales experience is preferred, but retail experience is not required. hhgregg has a comprehensive training program, which provides more than 200 hours of training for each sales associate. To apply online, please visit www.hhgregg-jobs.com.

CORPORATE OVERVIEW

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 118 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

Friday, September 25, 2009

hhgregg Announces Grand Opening of New Cincinnati, OH Location

hhgregg Announces Grand Opening of New Cincinnati, OH Location

New Store to Provide Shoppers with a Modern Shopping Experience, Top-Notch Customer Service

INDIANAPOLIS, Sep 25, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG) announced today that it will open a new location in Cincinnati, Ohio on Sunday, September 27th. The new store, located at 4786 Fields Ertel Road in the Cross Roads Shopping Center, will replace hhgregg's older location on 9450 Fields Ertel Road. A ribbon-cutting ceremony will be held on Sunday, September 27, at 10:45am, followed by the official store opening at 11:00am.

The new 30,700 square foot store will provide an attractive and updated shopping experience for local residents, with more than 500 brand name appliances and electronics on display. hhgregg's knowledgeable, professional sales staff will be transferred to the new location, where they will continue to help customers make the best purchase decisions and provide hhgregg's convenient in-home delivery and installation service.

To celebrate the new store location, hhgregg will launch its "Show Me Your State" Facebook photo contest to all Ohio residents from September 27th -October 11th. Residents simply download a picture of hhgregg's mascot "hh", take a picture of him at their favorite location in Ohio, and post it to his Facebook page for a chance to win a high-end digital camera. For official rules, please visit: www.hhgregg.com/ShowMeYourState.

"At hhgregg, pleasing our customers has always been our main focus," said, Jeff Pearson, vice president of marketing, hhgregg. "This new location has been designed to provide shoppers in the Cincinnati area with a new and more modern shopping experience."

In honor of the new Fields Ertel store, hhgregg will host a Grand Opening Sale from September 27-October 3. Customers will be able to take advantage of low prices and 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.

CORPORATE OVERVIEW

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 118 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

SOURCE: hhgregg

hhgregg Announces Grand Opening of Cary, NC Store

hhgregg Announces Grand Opening of Cary, NC Store

New Store Offers Wide Selection of Appliances and Electronics, Top-Notch Customer Service

INDIANAPOLIS, Sep 25, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG) announced today that it will be opening a new store in Cary, NC on Sunday, September 27th. A brief ribbon-cutting ceremony for the store located at 1401 Piney Plains Road, will be held at 10:45 a.m., followed by the official store opening at 11:00 a.m.

To celebrate the new store, and introduce more consumers to hhgregg, the Company will launch its "Show Me Your State" Facebook photo contest to all North Carolina residents from September 27th -October 11th. Residents simply download a picture of hhgregg's mascot "hh", take a picture of him at their favorite location in North Carolina, and post it to his Facebook page for a chance to win a high-end digital camera. For official rules, please visit: www.hhgregg.com/ShowMeYourState

hhgregg's new Cary location is its 17th store in North Carolina. It has 29,235 square feet, and more than 500 brand name appliances and electronics on display.

"The Raleigh market continues to be an important focus for hhgregg," said, Jeff Pearson, vice president of marketing, hhgregg. "The new Cary location will provide customers with a modern store where they can shop for all of their appliance and electronics needs with the help of hhgregg's knowledgeable and professional sales associates."

A Grand Opening sale will be held from September 27th - October 3rd, providing low prices on all televisions, appliances and electronics throughout the store. In addition to the sale, customers can register to win a Frigidaire stainless steel appliance package or Magellan GPS.

CORPORATE OVERVIEW

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 118 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

Wednesday, September 23, 2009

hhgregg Announces 800 Seasonal Job Openings

hhgregg Announces 800 Seasonal Job Openings

Appliance and Home Theater Associates Needed, Opportunity for Full-Time Employment

INDIANAPOLIS, Sep 23, 2009 (BUSINESS WIRE) -- In anticipation of the holiday season,Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG), is looking to hire qualified, seasonal associates for its 117 stores this fall. The company is accepting applications through the end of September for associates to assist in its appliance and home theater departments from October through January.

"The holiday season is a busy time of year for hhgregg, and we are looking for friendly associates to help ensure a pleasant experience for all of our customers," said Cathy Janicki, vice president, human resources, hhgregg. "We welcome applicants who have a passion to sell and love working with people. We will be offering permanent full time and part time sales opportunities post holiday."

Applicants must have friendly, outgoing personalities and flexible schedules. Sales experience in appliances or electronics is a plus. Upon hiring, seasonal associates will receive two weeks of dedicated training focused on product knowledge and selling skills, as well as hhgregg's policies and procedures. To apply, please visit www.hhgregg-jobs.com

CORPORATE OVERVIEW

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 117 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

Friday, September 11, 2009

hhgregg Announces 80 Job Openings in Memphis

hhgregg Announces 80 Job Openings in Memphis

Sales, Warehouse and Management Positions Available in Memphis, TN and Southhaven, MS

INDIANAPOLIS, Sep 11, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leader hhgregg (NYSE: HGG) is looking to hire about 80 employees for store openings in Memphis, TN and Southhaven, MS this fall. The company is accepting applications for commissioned sales associates, warehouse staff, customer service merchandisers and Manager in Training positions.

"We are excited about our growth in Memphis and Mississippi and are looking forward to hiring new hhgregg associates to be a part of our team," said Matt Skinner, regional manager, hhgregg. "We encourage those with a friendly and customer-service focused attitude to apply. There are many opportunities available to be part of our team."

Sales experience is preferred, but retail experience is not required. hhgregg has a comprehensive training program, which provides more than 200 hours of training for each sales associate. Applicants must have a friendly, customer-service-focused attitude. To apply online, please visit www.hhgregg-jobs.com. hhgregg will also accept applications from September 14th-19th and September 21st-26th at job fairs located at Drury Inn & Suites Memphis South, 735 Goodman Road West, Horn Lake MS and Drury Inn & Suites Memphis Northeast, 1556 Sycamore View, Memphis, TN. The job fairs are open Monday through Friday from 9:00am-6:00pm and Saturday from 9:00am-2:00pm.

CORPORATE OVERVIEW

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 117 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

Wednesday, September 9, 2009

hhgregg Announces Grand Opening of New Store in Evansville, IN

hhgregg Announces Grand Opening of New Store in Evansville, IN

Launches Facebook Contest for Indiana Residents to Win Prizes

INDIANAPOLIS, Sep 09, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG) announced that it will open its 117th store in Evansville, Indiana on Thursday, September 10th. A ribbon-cutting ceremony for the store located at 225 North Burkhardt Road in the Lloyd Shopping Center will be held at 2:45 p.m., followed by the official store opening at 3:00 p.m.

The 39,000 square foot hhgregg in Evansville will display a wide variety of brand name appliances and electronics. It will also feature an Outlet Center where items that may have small cosmetic imperfections will be on sale.

To celebrate the new store, and introduce more consumers to hhgregg, the Company will launch its "Show Me Your State" Facebook photo contest to all Indiana residents from September 10-24th. Residents simply download a picture of hhgregg's mascot "hh", take a picture of him at their favorite location in Indiana, and then post it to his Facebook page for a chance to win a high-end digital camera. For official rules, please visit: www.hhgregg.com/ShowMeYourState

Headquartered in Indianapolis, with 12 stores throughout the state, hhgregg maintains a strong presence in Indiana. "The addition of the Evansville store provides a convenient shopping location for the citizens of Evansville, Owensboro and the surrounding towns and communities in Southwestern Indiana," said Jeff Pearson, vice president of marketing, hhgregg. "At the new store, shoppers can expect to see a wide selection of appliances and electronics at competitive prices, along with top-notch customer service from our knowledgeable sales team.

A Grand Opening Sale at the Evansville store will also run from September 10-20th, providing low prices on televisions, appliances and electronics throughout the store.

hhgregg Appoints New CFO, COO and CMO

hhgregg Appoints New CFO, COO and CMO

Further Strengthened Management Team Through Promotions

INDIANAPOLIS, Sep 09, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leading retailer hhgregg, Inc. (NYSE:HGG) today announced that, after conducting an extensive search, it has appointed Jeremy J. Aguilar, currently Interim Chief Financial Officer, as the Company's new Chief Financial Officer. hhgregg has also promoted Gregg W. Throgmartin, Senior Vice President of Store Operations, to the role of Executive Vice President and Chief Operating Officer, while Michael G. Larimer is being promoted to Chief Merchandising Officer from his current position as Senior Vice President of Electronics Merchandising. These promotions are effective immediately.

Jeremy Aguilar, Chief Financial Officer

Jeremy Aguilar has been appointed Chief Financial Officer of hhgregg and its wholly owned subsidiary, Gregg Appliances, Inc. Mr. Aguilar has served as the Company's Interim CFO since March 2009. He joined hhgregg in 2005 and previously served as the Company's Vice President, Controller as well as Director of Financial Reporting. Since joining hhgregg, Mr. Aguilar's leadership has been a great compliment to the senior management team. Mr. Aguilar played an integral role in the Company's initial public offering and follow-on offering and the development of a strong finance team. Prior to joining hhgregg, Mr. Aguilar was a Manager at KPMG LLP.

"After conducting an extensive search and meeting with many outstanding external candidates, we believe that there is no candidate better suited for the role of CFO than Jeremy," said Dennis May, President and Chief Executive Officer. "Over the last six months, Jeremy has proved himself to be an excellent CFO, taking on a strong leadership role within the Company and leading hhgregg's successful follow-on offering."

Gregg Throgmartin, Executive Vice President and Chief Operating Officer

Gregg Throgmartin will become Executive Vice President and Chief Operating Officer of the Company. Mr. Throgmartin joined the Company in 2001 and has held the positions of Senior Vice President of Store Operations, Vice President of Sales, Director of Strategic Merchandising, Regional Manager and Store Manager. Mr. Throgmartin has overseen store operations during a time of both significant growth for hhgregg and a very challenging macroeconomic environment and has provided tremendous leadership to the Company. In his new role, merchandising, marketing and store operations will report to Mr. Throgmartin.

"Gregg has led the Company through more than 65 successful grand openings and has held almost every operations role within the organization. He has overseen the execution of our store rollouts and has been an integral part of differentiating hhgregg in the marketplace through our superior customer purchase experience," stated Dennis May.

Michael Larimer, Chief Merchandising Officer

Michael Larimer will become Chief Merchandising Officer, a promotion from his current position as Senior Vice President of Electronics Merchandising. In this new position, Mr. Larimer will provide merchandising oversight over all categories. Mr. Larimer joined the Company in 1999 as the Video Merchandising Manager, a position he held until he assumed his current role in 2001. Since Mr. Larimer joined the organization, the Company has added nearly 100 stores and navigated through several economic cycles.

"These individuals have been integral to our success and these title changes only solidify their continuing contribution to the leadership of this organization. With these promotions, we believe we have the best team in place to take hhgregg to the next level of growth," said Dennis May. "Our executive team is committed to ensuring that we maximize the opportunities available to us in this environment, keeping the unique hhgregg purchase experience and strong culture of execution, all while remaining responsible stewards of our capital."

About hhgregg

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the name hhgregg(R) hhgregg currently operates 117 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

Thursday, September 3, 2009

hhgregg Announces 250 Job Openings in the Tampa Area

hhgregg Announces 250 Job Openings in the Tampa Area

Customer-Focused Associates Needed to Fill Sales and Management Positions

INDIANAPOLIS, Sep 02, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG) is looking to hire more than 250 employees for new stores opening in the Tampa market this fall. The company is accepting applications for commissioned sales associates and Manager in Training positions.

"We are excited about our growth in Tampa and are looking forward to hiring new hhgregg associates to be a part of our team," said Angela Larrabee, regional manager, hhgregg. "We welcome applicants with previous sales and electronics experience, but we also encourage those with a friendly and customer-service focused attitude, who may not have retail experience, to apply. hhgregg has a comprehensive training program, which provides more than 200 hours of training each year to our staff."

Applicants must have a friendly, customer-service-focused attitude. Sales and customer service experience is beneficial, but retail experience is not required. Bilingual and Spanish-speaking individuals are strongly encouraged to submit an application. To apply, please visit www.hhgregg-jobs.com.

CORPORATE OVERVIEW

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 116 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

Wednesday, August 26, 2009

hhgregg Announces Grand Opening of New Store in Johnson City, TN

hhgregg Announces Grand Opening of New Store in Johnson City, TN

Store to Feature Wide Selection of Brand Name Appliances and Electronics

INDIANAPOLIS, Aug 26, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG) announced that they'll be opening their 116th store in Johnson City, TN on Thursday, August 27th. A ribbon-cutting ceremony for the store located at 3211 Peoples Street will be held at 2:45 p.m., followed by the official store opening at 3:00 p.m.

While the Company has a number of existing locations throughout the state of Tennessee, the Johnson City store will be the first in the Tri-Cities region. "The addition of the Johnson City store provides a convenient shopping location for the citizens of Johnson City, Kingsport, Bristol and the surrounding smaller towns and communities in Northeast Tennessee and Southwest Virginia," said Jeff Pearson, vice president of marketing, hhgregg.

"We are excited to enter the Tri-Cities region, and look forward to introducing residents to the hhgregg shopping experience," said Pearson. "Shoppers can expect to see a wide selection of electronics at competitive prices, along with top-notch customer service from our knowledgeable sales team."

To celebrate the new hhgregg location, a Grand Opening sale will be held from August 27 - September 5, providing low prices on televisions, appliances and electronics throughout the store.

CORPORATE OVERVIEW

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 116 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

hhgregg Launches "Show Me Your State" Facebook Photo/Video Contests

hhgregg Launches "Show Me Your State" Facebook Photo/Video Contests

Fans Can Win a Canon EOS Rebel T1k Camera by Sharing Their Favorite Place with hh

INDIANAPOLIS, Aug 25, 2009 (BUSINESS WIRE) -- Today, hhgregg, an Indianapolis-based appliance and electronics leader (NYSE:HGG), announced the kick-off of a series of Facebook contests called "Show Me Your State." The contests will give fans the opportunity to share images of their favorite local hangout, scenic vista, historic site or other must-see location with hh, hhgregg's icon. hh is travelling to different hhgregg local markets and needs his fans' help in deciding where to visit when he is in town.

The contest kicks off in Georgia to honor hhgregg's newest store located in Savannah. The "Show Me Georgia" contest begins today and runs through September 8th, 2009. One lucky winner in each state will receive a Canon 15.1 Megapixel EOS Rebel T1i Digital SLR Camera, while second prize winners will score a Canon PowerShot 12.1 Megapixel Camera.

How to Win

Each state contest follows the same format. Beginning with Georgia, all legal residents of Georgia who are 18 years of age or older and are registered Facebook users can enter to win. Participants must also become a fan of the hh Sales Guide Facebook Page in order to upload their entries. Participants download and print a likeness of hh from http://www.hhgregg.com/ShowMeYourState, snap a photo or videotape hh at their favorite location in Georgia, and then upload it as an update to the hh Sales Guide Facebook Page wall. Along with a brief explanation of where hh is in the photo or video, fans must write a line about why this place is a must-see. Fans should encourage their friends to comment on or "like" their entry. hhgregg will determine the winner based on creativity and location appeal. Fans may enter as many times as they wish.

In addition to the "Show Me Georgia" contest, hhgregg will bring the "Show Me Your State" contest to the following states:

Indiana, September 10th - 24th, 2009
Ohio, September 27th - October 11th, 2009
North Carolina, September 27th - October 11th, 2009
Florida, October 15th - October 29th, 2009
Tennessee, October 29th - November 12th, 2009
Mississippi, October 29th - November 12th, 2009
South Carolina, November 12th - November 26th, 2009
Virginia, November 19th - December 3rd, 2009

For the official contest rules and to download the hh image for use in entries, please visit: http://www.hhgregg.com/ShowMeYourState.

Wednesday, August 12, 2009

hhgregg Announces Grand Opening of New Store in Savannah, Georgia

hhgregg Announces Grand Opening of New Store in Savannah, Georgia

32,000 Square-Foot Store Features Wide Selection of Brand Name Appliances and Electronics

INDIANAPOLIS, Aug 12, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG) announced that it will open its 115th store in Savannah, Georgia on Thursday, August 13th. The store is located in the Chatham Plaza at 7805 Abercorn Street, Savannah, GA 31406. A ribbon-cutting ceremony for the 32,000 square foot store will be held at 2:45 p.m., followed by the official store opening at 3:00 p.m.

"We are excited to enter the Savannah market, and look forward to introducing residents to the hhgregg shopping experience," said Jeff Pearson, vice president of marketing, hhgregg. "Shoppers can expect to see a wide selection of appliances and electronics at competitive prices, along with top-notch customer service from our knowledgeable sales team."

To celebrate the new hhgregg location, a Grand Opening sale will be held from August 13-Agust 23rd, providing low prices on televisions, appliances, electronics and more throughout the entire store.

CORPORATE OVERVIEW

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 115 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

View more press releases at ir.hhgregg.com

Friday, August 7, 2009

hhgregg Announces Operating Results

hhgregg Announces Operating Results

1st Quarter Highlights

Net income per diluted share decreases to $0.04 from $0.06

Company reaffirms fiscal 2010 guidance of $0.85 to $1.00 net income per diluted share

Management transition completed with Dennis May becoming CEO

Common Stock Offering and Private Placement completed, raising proceeds, net of underwriting fees, of $78.6 million

Company announces plans to open 20 - 22 new stores in Fiscal 2010 and 40 - 45

new stores in FY 2011
INDIANAPOLIS, August 7, 2009/Businesswire, hhgregg, Inc. (NYSE: HGG):

hhgregg, Inc. ("hhgregg" or "the Company") today reported net income of $1.5 million for the three months ended June 30, 2009, or net income per diluted share of $0.04, compared with net income of $2.1 million, or $0.06 per diluted share, for the comparable prior year period. The change in net income and net income per diluted share was primarily attributable to four factors:

The Company reported a comparable store sales decrease of 14.7% for the three months ended June 30, 2009, reflecting weakness in demand for both the appliance and video product categories. The appliance decrease is primarily due to double-digit comparable store unit sales declines of most major appliance products. Three door refrigeration and certain high efficiency laundry products experienced modest comparable store unit increases and contributed to higher average selling prices for the appliances category for the three months ended June 30, 2009. Average selling prices fell dramatically in the video category along with the industry, led by falling prices in LCD and plasma categories, and were partially offset by higher average selling prices of LED televisions. This decrease in average selling price was partially offset by double digit increases in comparable store units for the three months ended June 30, 2009 compared to the prior year period. The comparable store sales increases in the other product category was due to a triple digit increase in comparable store sales for notebook computers, partially offset by decreased sales of all other categories.


Gross profit, as a percentage of net sales, declined 85 basis points for the three months ended June 30, 2009 versus the comparable prior year period, largely driven by the reduction in appliance sales relative to our historical net sales mix. The appliance product category historically has generated higher gross profit margins than the Company's average, particularly during the first half of the fiscal year. While appliance gross margins exceeded the company average during the three months ended June 30, 2009, the appliance category accounted for 41% of total sales versus 44% in the comparable prior year period, negatively impacting the consolidated gross profit. Gross profit, as a percentage of sales, in the appliance category decreased modestly. Gross profit, as a percentage of sales, in the video category increased moderately over the comparable prior year period. The increase in computers sales as a percentage of the other category's sales mix and the decrease in mattress sales as a percentage of the other category's sales mix contributed to a modest negative impact on the other category's gross profit percentage compared to the prior year.

SG&A expense, as a percentage of net sales, increased 34 basis points for the three months ended June 30, 2009 compared to the comparable prior year period. This increase was largely due to the de-leveraging impact of the comparable store sales decrease on several SG&A expense items but most specifically to occupancy costs, which include rent, property taxes and utilities. This increase was partially offset by a decrease in wage expense, as a percentage of sales, primarily associated with our variable cost structure as well as the non-recurring pre-opening expenses and growth investments associated with our launch of the Florida market.

Net advertising expense as a percentage of net sales decreased 79 basis points for the three months ended June 30, 2009 to $11.8 million compared to $14.6 million for the three months ended June 30, 2008. Gross advertising spend decreased for the three months ended June 30, 2009 largely due to reduced advertising rates coupled with higher expense in the prior year period due to the launch of new markets in Florida. These decreases were coupled with increased advertising support dollars which further reduced net advertising expense as a percentage of net sales.


Net sales mix and comparable store sales percentage changes by product category for the three months ended June 30, 2009 and 2008 were as follows:



Completes Management Transition
As previously announced in February, effective August 5th, Dennis L. May became the President and Chief Executive Officer of the company. Jerry W. Throgmartin, will continue to be involved with setting the Company's strategic vision as the Executive Chairman of the Board of Directors. "I am extremely confident in Dennis's ability to lead hhgregg through a very exciting time for the Company," commented Mr. Throgmartin. "This transition has been in process for several years and I believe that Dennis and I will continue to work together closely in our new roles to foster our unmatched customer purchase experience in both our new and existing markets."

Mr. May joined hhgregg in January 1999, bringing substanital experience of video and appliance retail experience with him. During his tenure at hhgregg, he has worked closely with Mr. Throgmartin while serving as the Company's Chief Operating Officer. He has played an instrumental role in helping the Company expand, while maintaining profitability and a dedication to customer service.

Common Stock Offering, Private Placement and Debt Commitments

On July 20, 2009, hhgregg completed a public stock offering of 4,025,000 shares of its common stock at $16.50 per share. Concurrently with the public offering, investment funds affiliated with Freeman Spogli & Co. purchased an additional 1,000,000 shares of common stock, in a private placement transaction, at the price per share paid by the public in the offering. Proceeds, net of underwriting fees, from the public stock offering and private placement, totaled approximately $78.6 million. These proceeds will be used for general corporate purposes, including to fund the Company's accelerated new store growth plans.

In connection with the public stock offering, the Company entered into commitments with lenders to increase the borrowing availability under the Company's revolving credit facility from $100 million to $125 million.

Dennis May, President and CEO of the Company commented, "We are pleased with the completion of our recent common stock offering as well as the commitments we received to expand our current revolving credit facility which will provide the necessary liquidity to support our expansion plans. Despite the ongoing challenges in the environment, we continue to gain additional market share as we differentiate ourselves by offering premium quality products sold by highly trained people at competitive prices. Our team is energized, and we are focused on successfully executing a more aggressive store expansion strategy that calls for 20 to 22 new store openings this fiscal year and between 40 and 45 new store openings next fiscal year."

Fiscal Year 2010 Guidance

The Company reaffirms its sales and earnings guidance for fiscal 2010. Based on projected net sales growth of 3% to 7% for the fiscal year, the Company would expect net income per diluted share to range between $0.85 to $1.00, which includes the impact of the common stock offering. This would imply an expectation of a comparable store sales decline of 7% to 12% for fiscal 2010. The Company expects comparable store sales and earnings pressure to lessen as the year progresses.

Assumed in the Company's estimates for fiscal 2010 is the opening of 20 to 22 new stores, with the majority of the new stores scheduled to be opened prior to the holiday selling season. Capital expenditures, net of sale and leaseback proceeds, are expected to range between $45 million and $50 million for the fiscal year.

Teleconference and Webcast
hhgregg will be conducting a conference call to discuss operating results for the three months ended June 30, 2009, on Friday, August 7, 2009 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 hhgregg's website at www.hhgregg.com. The on-line replay will be available for a limited time immediately following the call. The call can also be accessed live over the phone by dialing (866)575-6540. Callers should reference the hhgregg first quarter earnings call.
About hhgregg
hhgregg is a specialty retailer of consumer electronics, home appliances, and related products and services operating under the name hhgregg™. hhgregg currently operates 114 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

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 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 hhgregg's net sales; competition in existing, adjacent and new metropolitan markets; changes in consumer preferences and demand for hhgregg's products; 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 hhgregg's key management personnel and its ability to attract and retain qualified sale's 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 achieve its accelerated growth strategy 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 hhgregg's central distribution centers; changes in cost for print, radio and television advertising; and changes in 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 hhgregg's prospectus supplement filed with the Securities and Exchange Commission on July 21, 2009. 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 time of this news release. Actual results may differ materially from anticipated results described in these forward looking statements. 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.


View more press releases at ir.hhgregg.com

Thursday, July 30, 2009

hhgregg Announces Grand Opening of New Store in Cleveland, OH

hhgregg Announces Grand Opening of New Store in Cleveland, OH

32,000 Square Foot Store to Feature Wide Selection of Brand Name Appliances and Electronics

INDIANAPOLIS, Jul 30, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leader hhgregg (NYSE: HGG) announced today the opening of its 114th store in Mayfield Heights, Ohio. A ribbon-cutting ceremony for the 32,000 square foot store located at 1536 Golden Gate Plaza will be held at 2:45 p.m., followed by the official store opening at 3:00 p.m.

Over the past ten years, hhgregg has continued to grow throughout Ohio, opening 27 stores and creating more than 800 jobs for residents. The addition of the Mayfield Heights store provides another convenient shopping location for the Cleveland metro area, displaying a wide selection of brand name appliances and electronics. To celebrate the Grand Opening, hundreds of items throughout the store will be on sale through August 8, 2009.

"We stand committed to expanding our presence in Ohio, and to providing the best customer service for everyone who shops at hhgregg," said Jeff Pearson, vice president of marketing, hhgregg. "The new store in Mayfield Heights will give Cleveland residents the opportunity to get to know our knowledgeable, professional sales staff that can help them make the best purchase decisions and take advantage of our convenient same-day delivery and installation."

CORPORATE OVERVIEW

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 114 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

Wednesday, July 29, 2009

hhgregg Announces Annual Stockholder Meeting and Conference Call to Discuss First Quarter Operating Results

hhgregg Announces Annual Stockholder Meeting and Conference Call to Discuss First Quarter Operating Results

INDIANAPOLIS, Jul 28, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics retailer, hhgregg, Inc. (NYSE:HGG) today announced that it will conduct its annual meeting of stockholders on Wednesday, August 5, 2009 at 2:00 p.m. Eastern Time at the Company's principal executive offices, 4151 E. 96th Street, Indianapolis, IN, 46240. Interested parties who are unable to attend the event, can access the event over the phone by dialing (877) 852-6578 or by listening to the simultaneous webcast by logging on to the Company's investor relations page at http://ir.hhgregg.com/. A replay of the meeting will be available on the Company's website through September 5, 2009.

Additionally, the Company today announced that it will be conducting a conference call to discuss its operating results for its first fiscal quarter ended June 30, 2009 on Friday, August 7, 2009 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 http://ir.hhgregg.com/. The call can also be accessed over the phone by dialing (866) 575-6540. Callers should reference the hhgregg first quarter earnings call. A replay of the earnings call will be available on the Company's website through September 7, 2009.

About hhgregg
hhgregg is a specialty retailer of consumer electronics, home appliances, and related products and services operating under the name hhgregg(TM). hhgregg currently operates 113 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

Tuesday, July 21, 2009

hhgregg Inc. Announces Pricing of Common Stock Offering

hhgregg Inc. Announces Pricing of Common Stock Offering

INDIANAPOLIS, Jul 20, 2009 (BUSINESS WIRE) -- hhgregg, Inc. ("hhgregg") today announced the pricing of an underwritten public offering of 3,500,000 shares of its common stock, at a price of $16.50 per share. The underwriters have a 30-day option to purchase up to an additional 525,000 shares at the offering price less the underwriting discount, to cover over-allotments, if any. hhgregg expects to receive net proceeds of approximately $53.5 million from the offering (excluding any exercise of the over-allotment option), after deducting underwriting discounts and commission and estimated expenses payable by hhgregg. hhgregg intends to use the net proceeds from the public offering for general corporate purposes, including working capital and capital expenditures related to store growth and new store pre-opening.

Credit Suisse Securities (USA) LLC and Barclays Capital Inc. are the Joint Bookrunning Managers for the offering. The common stock is being issued under a $200 million shelf registration statement declared effective by the Securities and Exchange Commission on July 14, 2009.

About hhgregg

hhgregg is a specialty retailer of consumer electronics, home appliances, and related products and services operating under the names hhgregg(TM). hhgregg currently operates 113 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

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 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 hhgregg's net sales; competition in existing, adjacent and new metropolitan markets; changes in consumer preferences and demand for the hhgregg's products; 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 hhgregg's key management personnel and its ability to attract and retain qualified sale's 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 achieve its accelerated growth strategy 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 hhgregg's central distribution centers; changes in cost for print, radio and television advertising; and changes in 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 hhgregg's preliminary prospectus supplement filed with the Securities and Exchange Commission on July 16, 2009. 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 time of this news release. Actual results may differ materially from anticipated results described in these forward looking statements. 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.

View more press releases at ir.hhgregg.com

Thursday, July 16, 2009

hhgregg Announces Grand Opening of Two Stores in North Carolina

hhgregg Announces Grand Opening of Two Stores in North Carolina

hhgregg Continues Expansion with Stores in Asheville and Wilmington

INDIANAPOLIS, Jul 16, 2009 (BUSINESS WIRE) -- Today Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG) announced the grand opening of its 112th and 113th stores in North Carolina. The stores are located at 80 S. Tunnel Road, Asheville NC and 830 Inspiration Drive, Wilmington NC. hhgregg will celebrate the grand opening of both stores with ribbon-cutting ceremonies followed by official store openings at 3:00 p.m. Hundreds of items, including televisions, appliances and mattresses in both stores will be deeply discounted during the Grand Opening that will last through July 25.

"We are very pleased to continue expanding our presence in North Carolina," said Jeff Pearson, Vice President of Marketing, hhgregg. "We now have sixteen stores in North Carolina providing a wide selection of appliances and electronics to residents, combined with our unmatched customer service."

The new stores in Asheville and Wilmington will provide convenient shopping locations for North Carolina's major metropolitan areas, displaying a wide selection of appliances along with highly-trained sales associates to educate customers about their array of choices. hhgregg also offers in-home delivery and installation, making it convenient for customers to get started with their new products right away.

In addition to an enjoyable shopping experience, hhgregg stores offer competitive salaries and benefits to its sales associates. The Asheville and Wilmington stores will provide jobs for 80 people, bringing the total number of hhgregg employees in North Carolina to more than 600.

CORPORATE OVERVIEW

hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 113 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

View more press releases at ir.hhgregg.com

hhgregg, Inc. Announces Public Offering of 3,000,000 Shares of Common Stock

hhgregg, Inc. Announces Public Offering of 3,000,000 Shares of Common Stock

INDIANAPOLIS, Jul 16, 2009 (BUSINESS WIRE) -- hhgregg, Inc. (the "Company") (NYSE:HGG) today announced that it has commenced a public offering of 3,000,000 shares of its common stock pursuant to an effective shelf registration statement. Credit Suisse Securities (USA) LLC and Barclays Capital Inc. are the joint bookrunning managers for the offering. The underwriters will have a 30-day option to purchase up to an additional 450,000 shares from the Company to cover over-allotments, if any. The offering will be made by means of a prospectus. A copy of the prospectus related to the offering, when available, may be obtained by contacting:

Credit Suisse Securities (USA) LLC Attention: Prospectus Department One Madison Avenue New York, New York 10010 Telephone: 1-800 221 1037;or

Barclays Capital Inc. Attention: Prospectus Department c/o Broadridge Integrated Distribution Services 1155 Long Island Avenue Edgewood, NY 11717 Telephone: 1-888-603-5847 or by e-mail barclaysprospectus@broadridge.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. hhgregg has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in the effective registration statement and related prospectus supplement and other documents that hhgregg has filed or will file with the SEC for more complete information about hhgregg and this offering. You may get these documents for free by visiting the SEC website at www.sec.gov. Alternatively, you may obtain the prospectus relating to this offering as indicated above.

About hhgregg

hhgregg is a specialty retailer of consumer electronics, home appliances, and related products and services operating under the name hhgregg(TM). hhgregg currently operates 113 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

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: competition in existing, adjacent and new metropolitan markets; changes in consumer preferences and demand for the Company's products; 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 sale's 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; the effect of general and regional economic and employment conditions on its net sales; fluctuation in seasonal demand; its ability to achieve its accelerated growth strategy 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 print, radio and television advertising; and changes in trade regulations, currency fluctuations, the economy in general 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 preliminary prospectus supplement filed with the Securities and Exchange Commission on July 16, 2009. 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 time of this news release. Actual results may differ materially from anticipated results described in these forward looking statements. 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.

View more press releases at ir.hhgregg.com

Wednesday, July 8, 2009

hhgregg Announces Accelerated Growth Plans

hhgregg Announces Accelerated Growth Plans

Revises New Store Openings for Fiscal Year 2010 to 20 - 22

Plans to Launch the Mid-Atlantic Region with 40 - 45 New Stores in Fiscal Year 2011

INDIANAPOLIS, Jul 08, 2009 (BUSINESS WIRE) -- hhgregg, Inc. (NYSE:HGG) Today announced updated new store opening plans in connection with the company's accelerated growth strategy for fiscal years 2010 and 2011.

During the past year, competitive dynamics within the consumer electronics industry and the real estate landscape have changed considerably, with a major competitor exiting the market and substantial real estate availability in both new and existing markets. These changes have created significant opportunities for the company to expand at growth rates greater than previously projected. The company now expects to open between 20 and 22 new stores during the current fiscal year, up from previous expectations of 16 to 18 new store openings. These store openings will include the launch of three new multi-store markets: Tampa, Florida; Memphis, Tennessee; and Richmond, Virginia. Capital expenditures, net of sale and leaseback proceeds, are expected to range between $45 million and $50 million for the fiscal year, up from previous expectations of $30 million to $35 million. This increase primarily reflects the incremental capital expenditures expected to be incurred in late fiscal 2010 for the increased number of store openings expected in early fiscal 2011.

In addition, the company expects to open between 40 and 45 new stores during fiscal 2011, with the majority of these new stores located in large and mid-sized metropolitan markets in the Mid-Atlantic region, including Philadelphia, Pennsylvania; Baltimore, Maryland; and Washington, D.C. In connection with these expansion plans, the company also intends to open its fourth central distribution center for the Mid-Atlantic region in early fiscal 2011. The company has executed leases for nearly all of the new stores expected to be opened during fiscal 2010 and has begun to execute leases for fiscal 2011 new store openings. To date, the Company's Board of Directors has approved 18 locations for 2011.

The company expects to fund its fiscal 2010 store openings from cash from operations and its revolving credit facility. The company is currently exploring various financing alternatives, including equity and debt, to fund its store growth thereafter.

Dennis May, President and Chief Operating Officer, stated, "We have an extraordinary opportunity to gain market share by taking advantage of the current rental rates and excess availability in the real estate market. The combination of our effective operating model, an opportunistic real estate environment, strong partnerships with key vendors and the availability of talented field-level personnel, create a significant opportunity for the company to accelerate its growth while continuing to provide customers with a superior customer purchase experience."

About hhgregg
hhgregg is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(TM) and Fine Lines(TM). hhgregg currently operates 112 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

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: competition in existing, adjacent and new metropolitan markets; changes in consumer preferences and demand for the Company's products; 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 sale's 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; the effect of general and regional economic and employment conditions on its net sales; 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 print, radio and television advertising; and changes in trade regulations, currency fluctuations, the economy in general 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 Form 10-K filed June 2, 2009. 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 time of this news release. Actual results may differ materially from anticipated results described in these forward looking statements. 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.

View more press releases at ir.hhgregg.com

Thursday, June 18, 2009

hhgregg Announces Grand Opening of New Hilliard, OH Location

hhgregg Announces Grand Opening of New Hilliard, OH Location

New Location Provides More Square Footage, Modern Shopping Experience

INDIANAPOLIS, Jun 18, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leader hhgregg (NYSE:HGG) announced today the grand opening of a new location in Hilliard, Ohio. The newly renovated store, located at 1881 Hilliard Road in the Tanglewood Shopping Plaza, will replace hhgregg's older location on West Broad Street. A brief ribbon-cutting ceremony will be held on Sunday, June 21 at 10:45am, followed by the official store opening at 11:00am.

hhgregg's new location is well-positioned to accommodate the migration of shopping traffic in the Hilliard area. It has 20,500 square feet, and previously housed the Hilliard-Rome Circuit City, which closed its doors in November 2008. The new store will provide an attractive and updated shopping experience for local residents, with hundreds of brand name appliances and electronics on display. hhgregg's knowledgeable, professional sales staff will be transferred to the new location, where they will continue to help customers make the best purchase decisions. And customers will continue to benefit from hhgregg's convenient in-home delivery and installation service.

To celebrate the new Hilliard location, hhgregg will host a Grand Opening Sale from July 21-27 at all of its Columbus area stores. Customers will be able to take advantage of low prices and 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.
"The central Ohio market continues to be an important focus for hhgregg," said, Dennis May, COO and President of, hhgregg. "The new Hilliard store location will provide customers with a new and modern store where they can comfortably shop for all of their appliance and electronics needs."

CORPORATE OVERVIEW
hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 111 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

View more press releases at ir.hhgregg.com

Thursday, June 4, 2009

hhgregg to Participate in 29th Annual Piper Jaffray Consumer Conference

hhgregg to Participate in 29th Annual Piper Jaffray Consumer Conference

INDIANAPOLIS, Jun 04, 2009 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics retailer, hhgregg Inc. (NYSE:HGG) today announced that it will address investors at the 29th Annual Piper Jaffray Consumer Conference. hhgregg's Chief Executive Officer, Jerry Throgmartin, and President and Chief Operating Officer, Dennis L. May, will give the presentation.

The presentation will take place on Tuesday, June 9, 2009 at 12:30pm EDT, at The Westin New York at Times Square. A live webcast of the presentation may be accessed at: http://www.corporate-ir.net/ireye/conflobby.zhtml?ticker=HGG&item_id=2235135 or by accessing the Events section of our investor relations website at: http://ir.hhgregg.com/events.cfm.

CORPORATE OVERVIEW
hhgregg (NYSE: HGG) is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(R) and Fine Lines(R). hhgregg currently operates 111 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

For more information about the Company, please visit http://www.hhgregg.com/.

SOURCE: hhgregg Inc.

View more press releases at ir.hhgregg.com

Tuesday, June 2, 2009

hhgregg Announces Fiscal Fourth Quarter Operating Results

hhgregg Announces Fiscal Fourth Quarter Operating Results

INDIANAPOLIS, Jun 02, 2009 (BUSINESS WIRE) -- hhgregg, Inc. (NYSE: HGG):

Fourth Quarter Highlights
Net income per diluted share (as adjusted) increases 31.3% over the prior year to $0.42
Net sales increase 12.5% to $364.9 million; comparable store sales decrease 6.5%
Two new stores opened during the quarter

Fiscal Year 2009 Highlights
Net income per diluted share (as adjusted) increases 2.8% over the prior year to $1.10
Net sales increase 11.1% to $1.4 billion; comparable store sales decrease 8.3%
Twenty new stores opened during the fiscal year

Three Months Ended Twelve Months Ended
March 31, March 31,
(unaudited) 2009 2008 2009 2008
Net sales $364,855 $324,194 $1,396,678 $1,256,666
Net sales % increase 12.5% 14.4% 11.1% 18.6%
Comparable store sales % (decrease)/increase (1) (6.5)% 0.8% (8.3)% 4.8%
Gross profit as % of net sales 31.7% 31.5% 31.2% 30.9%
SG&A as % of net sales 19.8% 20.5% 20.5% 20.3%
Net advertising expense as a % of net sales 3.5% 4.0% 4.5% 4.3%
Depreciation and amortization expense as a % of net sales 1.1% 1.1% 1.1% 1.0%
Asset impairment charges 0.2% 0.0% 0.0% 0.0%
Income from operations as a % of net sales 7.1% 6.0% 5.0% 5.4%
Net interest expense as a % of net sales 0.4% 0.6% 0.5% 0.8%
Loss related to early extinguishment of debt as a % of net sales 0.0% 0.1% 0.0% 1.7%
Net income $13,875 $10,323 $36,497 $21,406
Net income per diluted share $0.42 $0.31 $1.10 $0.67
Net income per diluted share, as adjusted(2) $0.42 $0.32 $1.10 $1.07
Number of stores open at the end of the period 110 91
(1)Comprised of net sales at stores in operation for at least 14 full months, including remodeled and relocated stores, as well as net sales for the Company's e-commerce site.

(2)Adjusted to exclude the loss on the early extinguishment of debt primarily from the debt refinancing completed in conjunction with the initial public offering in July 2007. See the attached reconciliation of non-GAAP measures.

hhgregg, Inc. ("hhgregg" or "the Company") today reported net income of $13.9 million for the three months ended March 31, 2009, or diluted net income per share of $0.42, compared with net income of $10.3 million, or $0.31 per diluted share, for the comparable prior year period. Net income for the twelve months ended March 31, 2009 was $36.5 million, or $1.10 per diluted share, compared to net income of $21.4 million, or $0.67 per diluted share for the twelve months ended March 31, 2008. Excluding the impact of the loss from the early extinguishment of debt, net income for the twelve months ended March 31, 2008 was $34.6 million, or $1.07 per diluted share. The improvement in year-to-date earnings, excluding the loss on the early extinguishment of debt, reflects a 20 basis point improvement in gross profit margins, and a 34 basis point improvement in interest expense due to debt reduction compared to the prior year period. These gains were partially offset by a comparable stores sales decline of 8.3% coupled with the start-up investments in distribution and management infrastructure to support the new store growth in Florida.

Dennis May, President and Chief Operating Officer of the Company, commented, "We are pleased with our fourth quarter performance and our ability to adjust our business execution around what proved to be both a challenging and opportunistic quarter. While the weak economic environment continued to weigh on consumer demand and spending levels, the closure of a major consumer electronics chain also led to some unique buying opportunities and market share increases for the Company. By tightly managing expenses, inventory and working capital, we were able to deliver strong earnings growth that was driven by across-the-board improvements in sales, margins and expense leverage. In addition, our initiatives to drive cash flow allowed us to internally fund our fiscal 2009 store growth of 19% and take advantage of several advantageous buying opportunities in the marketplace. As we look ahead, we continue to plan the business around a difficult environment. While we believe our strong balance sheet, compelling market position, unique operating model and unwavering commitment to customers positions us well to continue to gain market share and drive shareholder value, the volatility in the business continues to limit our visibility and forces us to maintain a cautious outlook."

Net sales for the three months ended March 31, 2009 increased 12.5% compared to the comparable prior year period to $364.9 million. Net sales for the twelve months ended March 31, 2009 increased 11.1% over the prior year to $1.4 billion. The increase in sales for the fourth quarter and the twelve months ended March 31, 2009 was primarily attributable to the net addition of 19 stores during the past 12 months, partially offset by a 6.5% and an 8.3% decrease in comparable store sales, respectively.

Net sales mix and comparable store sales percentage changes by product category for the three and twelve months ended respectively March 31, 2009 and 2008 were as follows:

Net Sales Mix Summary Comparable Store Sales Summary

Three Months Ended
March 31,
Twelve Months Ended
March 31,
Three Months Ended
March 31,
Twelve Months Ended
March 31,
2009 2008 2009 2008 2009 2008 2009 2008
Video 55 % 50 % 50 % 46 % 1.5 % 2.9 % (1.1) % 4.7 %
Appliances 31 % 37 % 35 % 39 % (19.7) % (4.9) % (16.5) % 1.6 %
Other (1) 14 % 13 % 15 % 15 % 0.6 % 10.8 % (8.0) % 15.9 %
Total 100 % 100 % 100 % 100 % (6.5) % 0.8 % (8.3) % 4.8 %

(1)Primarily consists of audio, personal electronics, mattresses, computer notebooks and furniture and accessories.

hhgregg's 6.5% and 8.3% comparable store sales decreases for the three and twelve months ended March 31, 2009, respectively, primarily reflect continued weakness in the appliance category. The double digit comparable stores sales decline for the appliance category for both the quarter and year ended March 31, 2009, were due to decreased sales in our entry-level and lower mid-price point products. For the quarter, the increase in comparable store sales for the video category was due to continued strong demand in both LCD and Plasma products, offset by a decrease in average selling price of the video products. For the twelve month period, the impact of falling average selling prices more then offset the increase in units within the video category. For the quarter, the comparable store sales increase in the other category was due to double digit comparable store sales increase in the computer category offset by double digit comparable store sales decreases in the mattress category. For the twelve month period, the decrease in the other category was due to double digit decreases in mattresses and personal electronics offset by an increase in computer comparable store sales.

Gross profit margin, expressed as gross profit as a percentage of sales, increased 21 basis points for the quarter ended March 31, 2009 and increased 20 basis points for the twelve months ended March 31, 2009, compared with the respective prior year periods. The appliance gross profit margins exceeded the Company average as a percentage of sales during the quarter and the year-to-date period, but the appliance category accounted for approximately six and four percentage points less of the consolidated net sales for the three months and twelve month periods, respectively, relative to the comparable prior year periods, thereby negatively impacting the consolidated gross profit margin rate. Buying opportunities in the video category, attributable in large part to supply imbalances, had a positive impact on the consolidated gross profit margin rate during the fourth quarter as well as a modest positive impact for the year compared with the respective prior year periods. Small shifts in sales mix within the other product category had a modest negative impact on the consolidated gross profit margins during the fourth quarter and a modest positive impact on fiscal 2009 when compared with the respective prior year periods.

SG&A, as a percentage of net sales, decreased 61 basis points for the three months ended March 31, 2009 and increased 27 basis points for the twelve months ended March 31, 2009, compared with the respective prior year periods. Through various cost savings initiatives, as well as the overall variable structure of the Company's payroll, we leveraged SG&A as a percentage of sales despite the current quarter's comparable sales decline. However, while these items resulted in a decrease in overall SG&A as a percentage of sales during the current quarter, the impact of the Florida growth investments in the first half of the year, totaling approximately 40 basis points, more than offset the improvements noted above for the twelve month period.

Net advertising expense, as a percentage of sales, decreased 53 basis points during the fourth quarter and increased 20 basis points during the twelve months ended March 31, 2009 when compared with the respective comparable prior year periods. These results were achieved despite our comparable store sales decline during both periods as well as the significant advertising spend associated with the launch of new markets in Florida particularly during the first half of the fiscal year. During the fourth fiscal quarter, we continued to see favorable advertising rates.

Other expense, as a percentage of sales, decreased 29 basis points and 208 basis points for the three and twelve months ended March 31, 2009, respectively. Net interest expense decreased 22 basis points and 33 basis points for the three and twelve month periods, respectively, due to significantly lower debt levels in fiscal 2009 as compared to the prior year comparative period. The remainder of the decrease for the twelve months ended March 31, 2009 relates to the loss on early extinguishment of debt recorded in the prior year.

Income tax expense, as a percentage of sales, increased 85 and 72 basis points during the fourth quarter and twelve months ended March 31, 2009 respectively when compared with the respective comparable prior year periods. These increases were primarily the result of an increase in income before income taxes as compared to the comparable prior year periods. The increases in our effective tax rates for the fourth quarter and twelve months ended March 31, 2009 from 39.9% and 40.2%, respectively, in fiscal 2008 to 43.7% and 41.7%, respectively, in fiscal 2009 were primarily the result of a reduction in our deferred tax assets due to state income tax rates and apportionment adjustments.

Fiscal Year 2010 Guidance

Continued economic uncertainty, volatile customer traffic patterns and challenging industry trends have made it difficult to project consumer demand. As such, the Company has prudently planned for soft consumer demand for fiscal year 2010, while continuing to focus on controllable forms of cash flow generation such as inventory control, working capital management and various cost savings initiatives to maximize operating efficiencies.

Based on projected net sales growth of 3% to 7% for the fiscal year, the Company would expect net income per diluted share to range between $0.85 to $1.00. This would imply an expectation of a comparable store sales decline of 7% to 12% for fiscal 2010. However, due to difficult year-over-year comparisons during the first half of the fiscal year, the higher seasonal mix of appliance sales, a timing shift of the Easter holiday and the lapping of the 2008 stimulus checks, this guidance includes expectations that comparable stores sales for the first fiscal quarter will likely be below this range. The Company expects comparable store sales and earnings pressure to lessen as the year progresses.

Assumed in the Company's estimates for fiscal 2010 is the opening of 16 to 18 new stores, with the majority of the new stores scheduled to be opened prior to the holiday selling season. Capital expenditures, net of sale and leaseback proceeds, are expected to range between $30 million and $35 million for the fiscal year. The Company is beginning to see an increase in the availability of quality locations at lower lease rates in new and existing markets. This presents a significant opportunity for the Company to accelerate its store openings next year. The Company plans to prudently evaluate these opportunities.

Jerry Throgmartin, Chairman and CEO commented, "While the recent environment is volatile and difficult to forecast, we see tremendous opportunities in the real estate and labor markets and will diligently investigate these growth opportunities. With our strong balance sheet, compelling market position and operating model that flexes with its variable cost structure, we are in an advantageous position to potentially accelerate our growth and market share gains at what could prove to be a very opportunistic time. We will, however, continue to focus on execution and providing the consumer with a superior purchase experience."

Teleconference and Webcast

hhgregg will be conducting a conference call to discuss operating results for the three and twelve months ended March 31, 2009, on Tuesday, June 2, 2009 at 9:00 a.m. (Eastern Time). Interested investors and other parties may listen to a simultaneous web cast of the conference call by logging onto hhgregg's website at www.hhgregg.com. The on-line replay will be available for a limited time immediately following the call. The call can also be accessed live over the phone by dialing (877)548-7905. Callers should reference the hhgregg earnings call.

Non-GAAP to GAAP Reconciliation

Attached is a reconciliation of non-GAAP measures used in this earnings release including net income to net income, as adjusted, and diluted net income per share to diluted net income per share, as adjusted. Additional non-GAAP financial measures to be discussed in the hhgregg investor earnings call, including net income, as adjusted, diluted net income per share, as adjusted, and adjusted EBITDA (earnings before net interest expense, income tax expense, depreciation, amortization and loss on debt extinguishment) can be found at www.hhgregg.com on the investor relations page.

About hhgregg

hhgregg is a specialty retailer of consumer electronics, home appliances, mattresses and related services operating under the names hhgregg(TM) and Fine Lines(TM). hhgregg currently operates 111 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.

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 sale's 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 print, radio and television advertising; and changes in 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 fiscal 2009 Form 10 - K filed June 2, 2009. 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.

HHGREGG, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED INCOME STATEMENTS
(UNAUDITED)

Three Months Ended Twelve Months Ended
March 31, 2009 March 31, 2008 March 31, 2009 March 31, 2008
(In thousands, except share and per share data)
Net sales $ 364,855 $ 324,194 $ 1,396,678 $ 1,256,666
Cost of goods sold 249,166 222,092 961,570 867,733
Gross profit 115,689 102,102 435,108 388,933
Selling, general and administrative expenses 72,399 66,319 286,655 254,486
Net advertising expense 12,719 13,020 62,224 53,525
Depreciation and amortization expense 3,935 3,436 15,984 12,605
Asset impairment charges 602 - 602 -
Income from operations 26,034 19,327 69,643 68,317
Other expense (income):
Interest expense 1,378 1,972 7,103 10,706
Interest income (6 ) (43 ) (15 ) (88 )
Loss related to early extinguishment of debt - 235 - 21,930
Total other expense 1,372 2,164 7,088 32,548
Income before income taxes 24,662 17,163 62,555 35,769
Income tax expense 10,787 6,840 26,058 14,363
Net income $ 13,875 $ 10,323 $ 36,497 $ 21,406

Net income per share
Basic $ 0.43 $ 0.32 $ 1.13 $ 0.69
Diluted $ 0.42 $ 0.31 $ 1.10 $ 0.67
Weighted average shares outstanding-basic 32,536,216 32,264,992 32,391,392 31,130,680
Weighted average shares outstanding-diluted 33,261,210 33,135,531 33,063,511 32,188,984

HHGREGG, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED INCOME STATEMENTS
(AS A PERCENTAGE OF NET SALES)
(UNAUDITED)

Three Months Ended Twelve Months Ended
March 31, 2009
March 31, 2008
March 31, 2009
March 31, 2008

Net sales 100.0 % 100.0 % 100.0 % 100.0 %
Cost of goods sold 68.3 68.5 68.8 69.1
Gross profit 31.7 31.5 31.2 30.9
Selling, general and administrative expenses 19.8 20.5 20.5 20.3
Net advertising expense 3.5 4.0 4.5 4.3
Depreciation and amortization expense 1.1 1.1 1.1 1.0
Asset impairment charges 0.2 - - -
Income from operations 7.1 6.0 5.0 5.4
Other expense (income):
Interest expense 0.4 0.6 0.5 0.9
Interest income - - - -
Loss related to early extinguishment of debt - 0.1 - 1.7
Total other expense 0.4 0.7 0.5 2.6
Income before income taxes 6.8 5.3 4.5 2.8
Income tax expense 3.0 2.1 1.9 1.1
Net income 3.8 % 3.2 % 2.6 % 1.7 %

Certain percentage amounts do not sum due to rounding

HHGREGG, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
MARCH 31, 2009 AND 2008
(UNAUDITED)

2009 2008
(In thousands, except share data)
Assets
Current assets:
Cash and cash equivalents $ 21,496 $ 1,869
Accounts receivable--trade, less allowances of $219 and $450, respectively 5,319 8,121
Accounts receivable--other, less allowances of $0 and $35, respectively 9,038 14,263
Merchandise inventories, net 141,610 133,368
Prepaid expenses and other current assets 4,247 3,741
Deferred income taxes 4,421 2,129
Total current assets 186,131 163,491
Net property and equipment 83,555 77,794
Deferred financing costs, net 2,624 3,292
Deferred income taxes 77,564 85,012
Other assets 501 330
Total long-term assets 164,244 166,428
Total assets $ 350,375 $ 329,919
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 62,265 $ 80,533
Current maturities of long-term debt 908 -
Customer deposits 15,234 18,039
Accrued liabilities 32,067 36,799
Total current liabilities 110,474 135,371
Long-term liabilities:
Long-term debt, excluding current maturities 91,700 92,608
Other long-term liabilities 23,048 20,266
Total long-term liabilities 114,748 112,874
Total liabilities 225,222 248,245
Stockholders' equity:
Preferred stock, no par value; 10,000,000 shares authorized; no shares issued and outstanding - -
Common stock, no par value; 150,000,000 shares authorized; 32,744,111 and 32,285,267 shares issued and outstanding, respectively 165,527 159,149
Accumulated other comprehensive loss (747 ) (1,292 )
Accumulated deficit (39,498 ) (75,995 )
125,282 81,862
Note receivable for common stock (129 ) (188 )
Total stockholders' equity 125,153 81,674
Total liabilities and stockholders' equity $ 350,375 $ 329,919

HHGREGG, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED MARCH 31, 2009 AND 2008
(UNAUDITED)

2009 2008
(In thousands)
Cash flows from operating activities:
Net income $ 36,497 $ 21,406
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 15,984 12,605
Amortization of deferred financing costs 668 843
Accretion of original issue discount - 188
Stock-based compensation 2,676 1,706
Excess tax benefits from stock based compensation (525 ) -
Loss on sales of property and equipment 140 94
Loss on early extinguishment of debt - 21,930
Deferred income taxes 4,791 1,185
Asset impairment charges 602 -
Changes in operating assets and liabilities:
Accounts receivable--trade 2,802 2,520
Accounts receivable--other 5,225 (104 )
Merchandise inventories (8,242 ) (19,766 )
Prepaid expenses and other assets (677 ) 3,574
Accounts payable--third parties - -
Accounts payable--vendors (15,486 ) 20,797
Customer deposits (2,805 ) 1,081
Accrued liabilities (5,451 ) 474
Other long-term liabilities 5,251 (894 )
Net cash provided by operating activities 41,450 67,639
Cash flows from investing activities:
Purchases of property and equipment (33,715 ) (42,175 )
Proceeds from sale leaseback transactions (proceeds from related party was $4.4 million in fiscal 2009) 14,413 4,402
Deposit on future sale leaseback transaction (applied) received (1,815 ) 2,858
Acquisition of Builder Appliance Supply, Inc. - -
Proceeds from sales of property and equipment 81 85
Net cash used in investing activities (21,036 ) (34,830 )
Cash flows from financing activities:
Proceeds from issuance of common stock - 48,750
Transaction costs for stock issuance - (5,513 )
Proceeds from exercise of stock options 3,117 297
Excess tax benefits from stock based compensation 525 -
Net (decrease) increase in book overdrafts (4,548 ) (14,237 )
Payment on notes payable - (750 )
Payment of financing costs - (2,930 )
Proceeds from issuance of term loan - 100,000
Payment for early debt extinguishment - (158,082 )
Other, net 119 27
Net cash used in financing activities (787 ) (32,438 )
Net increase (decrease) in cash and cash equivalents 19,627 371
Cash and cash equivalents
Beginning of year 1,869 1,498
End of year $ 21,496 $ 1,869
Supplemental disclosure of cash flow information:
Interest paid $ 8,002 $ 10,960
Income taxes paid 21,775 17,171

HHGREGG, INC. AND SUBSIDIARIES

NON-GAAP RECONCILIATION OF NET INCOME, AS ADJUSTED AND
DILUTED NET INCOME PER SHARE, AS ADJUSTED
(UNAUDITED)

Three Months Ended

March 31,
Twelve Months Ended

March 31,
(Amounts in thousands, except share data) 2009 2008 2009 2008

Net income as reported
$ 13,875
$ 10,323
$ 36,497
$ 21,406

Transactional Adjustments:
Loss related to early extinguishment of debt
- 235
- 21,930

Tax impact of effect of early extinguishment of debt (1) - (94 ) - (8,772 )
Net income, as adjusted $ 13,875 $ 10,464 $ 36,497 $ 34,564
Weighted average shares outstanding - Diluted 33,261,210 33,135,531 33,063,511 32,188,984

Diluted net income per share

$ 0.42
$ 0.31
$ 1.10
$ 0.67

Diluted net income per share, as adjusted $ 0.42 $ 0.32 $ 1.10 $ 1.07

(1)Computed using a blended statutory rate of 40%.

HHGREGG, INC. AND SUBSIDIARIES
Store Count by Quarter for Fiscal Years 2007, 2008 and 2009
(Unaudited)


FY2007 FY2008 FY2009
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Beginning Store Count 67 69 72 74 77 79 80 85 91 97 103 108
Store Openings 2 3 2 3 2 1 5 6 6 6 6 2
Store Closures - - - - - - - - (1) -

Ending Store Count 69 72 74 77 79 80 85 91 97 103 108 110

Note: hhgregg, Inc.'s fiscal year is comprised of four quarters ending June 30th, September 30th, December 31st and March 31st.

SOURCE: hhgregg, Inc.

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