Appliance and electronic retailer
) recently announced that Jeremy J. Aguilar, the chief financial
officer (CFO) (Principal Financial and Accounting Officer) and
secretary of the company has resigned from its position. Aguilar
will pursue a similar role in another company effective from Jan
The board of hhgregg has appointed Andrew S. Giesler as the
interim chief financial officer and secretary of the company
effective from Jan 31, until it finds a new incumbent. Giesler,
aged 36, is currently the Senior Vice President, Finance.
Giesler has been associated with the company since 2007 and is
an experienced finance executive. He has leadership experience in
the company, having served as the Vice President, Finance, Vice
President, Controller and Director of Finance and Investor
Relations, before being appointed to his current position.
Giesler, as the interim chief financial officer and secretary of
hhgregg, is expected to lead the transition effectively, as he is
familiar with the company's financial operations and business
We believe that the company is taking initiatives to
restructure its sales mix, expand customer base and enhance its
service offerings. hhgregg has been consistently improving its
comparable store sales growth rate in the appliance category. The
company has also been growing its business with the introduction
of new products in the furniture and fitness categories.
The company is also trying to improve its consumer electronics
category through various initiatives. However, the category is
suffering due to industry-wide headwinds such as a decline in
demand for flat screen LCD televisions. However, we believe that
the company's persistent efforts to restructure the sales mix
will improve overall store traffic and category sales in the
upcoming quarters. hhgregg holds a Zacks Rank #3 (Hold).
Other retail and wholesale stocks that are performing well
Best Buy Inc.
Fortune Brands Home & Security
). While Conn's sports a Zacks Rank #1 (Strong Buy), Best Buy and
Fortune Brands carry a Zacks Rank #2 (Buy).
BEST BUY (BBY): Free Stock Analysis Report
CONNS INC (CONN): Free Stock Analysis Report
FORTUNE BRD H&S (FBHS): Free Stock Analysis
HHGREGG INC (HGG): Free Stock Analysis Report
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