Appliance and electronic retailer
) is opening a new store at 6275 University Drive NW in
Huntsville on Oct 10, replacing the previous store located at 930
Old Monrovia Rd NW. In order to celebrate the new store opening
and attract customers, the company will be offering special
discounts on a wide selection of televisions, appliances and
electronics, furniture and fitness equipments in all its stores
in Huntsville from Oct 10-19, 2013. The company has also arranged
contests and exciting prizes to attract customers. In addition,
hhgregg will also be offering special financing options for its
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. 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
Best Buy Inc.
Gamestop Corp Holding Co
). While Kirkland holds a Zacks Rank #1, Best Buy and Gamestop
hold a Zacks Rank #2 (Buy).
BEST BUY (BBY): Free Stock Analysis Report
GAMESTOP CORP (GME): Free Stock Analysis
HHGREGG INC (HGG): Free Stock Analysis Report
KIRKLANDS INC (KIRK): Free Stock Analysis
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