Appliance and electronic retailer
) is opening a new store at 5045 Glencrossing Way in the
Cincinnati area on Sep 19, replacing the previous store located
at 5111 Glencrossing Way. In order to celebrate the new store
opening and attract customers, the company will be offering
special discounts on hhgregg's wide selection of televisions,
appliances and electronics in all its stores in Cincinnati from
Sep 19-21, 2013.
The company expects this store opening to drive sales. In
fact, hhgregg has been growing its appliances business with the
introduction of new products in furniture and fitness categories.
The company is also expanding its computing and mobile phones
category and focusing on initiatives to drive additional traffic
and increase sales.
The company's strategic initiatives also improved results in
the first quarter of fiscal 2014. These initiatives mitigated the
effects of the continued weakness in the consumer electronic
category, which had been suffering since the past few
In order to improve overall comps and the performance of the
consumer electronics category, the company designed three major
initiatives for fiscal 2014 to drive additional traffic and
sales. The company intends to increase market share of its
appliance category, expand its customer base through advertising
campaigns and focus on promoting consumer electronics through
compelling offers. hhgregg also intends to increase category
sales through its website capabilities.
hhgregg holds a Zacks Rank #1 (Strong Buy). Other stocks in
the retail sector that are performing equally well and are worth
Haverty Furniture Cos. Inc.
Fortune Brands Home & Security
), all of them with a Zacks Rank #1.
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HHGREGG INC (HGG): Free Stock Analysis Report
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