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