Growing Retailer Continues to Expand Nationally
INDIANAPOLIS, Aug 21, 2008 (BUSINESS WIRE) -- Indianapolis-based appliance and electronics leader, hhgregg (NYSE:HGG), today announced the company will mark the 100th store milestone with its grand opening of a new store in Mishawaka, Indiana.
"More than 50 years ago, hhgregg opened its very first storefront location in The Hoosier State, and today's milestone opening of our 100th store testifies to the continued momentum and tremendous growth of our business," said hhgregg Chairman and CEO, Jerry Throgmartin.
"We've doubled our store count in the last four years and successfully built an infrastructure that will accommodate additional stores as we continue to expand our presence across the nation."
The 100th store opening is indicative of hhgregg's disciplined and self-funded growth strategy, in which the retailer continues to successfully grow the business and compete effectively with national consumer electronics and appliance retail chains. Just this year, the company entered its ninth state with seven new stores in Florida. hhgregg is on track with its plans to open a total of 18-20 new stores in fiscal 2009.
"Our consultative sales force continues to represent a significant competitive advantage in a tough retail climate," said hhgregg President, Dennis May. "We continue to focus on ensuring that our stores deliver a truly unique customer purchase experience."
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 100 stores in Alabama, Florida, Georgia, Indiana, Kentucky, North Carolina, Ohio, South Carolina and Tennessee.
SOURCE: hhgreggView more press releases at ir.hhgregg.com