 |
This article needs references that appear in reliable third-party publications. Primary sources or sources affiliated with the subject are generally not sufficient for a Wikipedia article. Please add more appropriate citations from reliable sources. (May 2009) |
 |
|
| Type | Public company |
|---|---|
| Founded | 1955 |
| Headquarters | Indianapolis, Indiana, USA |
| Key people | Jerry W. Throgmartin Executive Chairman Dennis L. May President & CEO |
| Industry | Retail |
| Products | Retailing-Electronics and Appliances |
| Revenue | $1.4 Billion USD |
| Employees | 3,922 |
| Website | http://www.hhgregg.com |
hhgregg Inc. (NYSE: HGG) or Gregg Appliances Inc. is a publicly owned and operated appliance and electronics retailer in the Midwest and Southeast United States with over 3,100 employees operating 112 stores in 11 states: Alabama, Indiana, Georgia, Kentucky, Virginia, North Carolina, Ohio, South Carolina, Tennessee, Mississippi, and Florida.[1]
Headquartered in Indianapolis, Indiana, hhgregg operates as a specialty retailer of consumer electronics and home appliances. Its retail products include video products comprising of LED, LCD, Plasma, and Micro-Display Televisions, as well as DVD recorders; home appliances, such as refrigerators, ranges, dishwashers, freezers, washers, and dryers; and other products and services, including audio hardware, mattresses, computers, and other selected consumer electronics and accessories.[2] The company announced on November 24, 2008 that they would begin selling popular gaming systems such as Wii, Xbox 360 and PlayStation 3.[3]
hhgregg reported an annual revenue of US $1.4 billion in 2009.
The company's motto is, "Price and Advice. Guaranteed."
Contents |
History
In 1955, a small storefront was erected by Henry Harold and Fansy Gregg on the north side of Indianapolis. The Greggs’ new store featured home appliances such as washing machines, clothes dryers, refrigerators, and grills. Shortly thereafter, they began selling televisions and other electronics.
In 1975, Jerry W. Throgmartin began working in his grandfather's store while attending middle school. He eventually worked his way through many positions there over the next 24 years, and in 1999, took over his father's position as Chairman, CEO, and Director of hhgregg Appliances and Electronics.[4]
Dennis L. May succeeded Throgmartin as hhgregg's President and Chief Executive Officer on February 17, 2009. Throgmartin continues to play an important role in the shaping the company's vision and strategy as Executive Chairman of the Board.[5]
Despite market trends that have diminished profit margins on high-tech devices, Throgmartin and May have expanded the business to 125 stores in 9 states as of October 2009. Throgmartin said, “We’ve been fortunate in that the areas of the [overall CE] business that have been strong are the areas in which we excel: high-end large-screen flat-panel TVs and home theater, and higher-end appliances."[4]
On July 8, 2009, the company announced that it planned to open 22 stores in the next year, primarily in Richmond, VA, Tampa, FL, and in Memphis, TN, many of them being in buildings formerly occupied by defunct Circuit City.
Fine Lines
Fine Lines is a division of hhgregg that was introduced November 1, 2004.[6] Each store offers over 18,000 square feet (1,700 m2) of premium lineup appliances including Best by Broan, Broan, Electrolux ICON, Gaggenau, GE Monogram, GE Profile, Jade, Jenn-Air, KitchenAid Architect, Sub Zero, Thermador, Thermador Freedom, U-Line, Viking, Wolf and Zephyr.[7] Products and brands vary by location. There are currently five Fine Lines locations:[8]
- Charlotte, North Carolina
- Columbus, Ohio
- Hoover, Alabama (Birmingham)
- Indianapolis, Indiana
- Jacksonville, Florida
hhgreen
August 6, 2008 marked the debut of hhgreen.org, a site highlighting hhgregg's energy-efficient, or "green" products.
Stock
hhgregg had its initial public offering on July 20, 2007, at USD $13.72 and is traded on the New York Stock Exchange under the ticker symbol HGG.[9]
Sponsorships
On December 17, 2007, hhgregg signed as one of 14 founding corporate partners for the Lucas Oil Stadium, home of the NFL’s Indianapolis Colts. hhgregg's deal earned them rights to advertise in the south gate and display many of their large, flat panel televisions.
The south gate is also home to a new 26,000-square-foot (2,400 m2) hhgregg showroom.[10]
Media
- Washington Post Story about store openings for 2010
- New retailer swoops in to fill Circuit City void (Richmond, Va)
References
- ^ "hhgregg Announces Grand Opening of Snellville, GA Store". hhgregg. http://press.hhgregg.com/2009/05/hhgregg-announces-grand-opening-of.html. Retrieved 2009-05-06.
- ^ "hhgregg, Inc. (HGG:NYSE) Snapshot". BusinessWeek. http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?capId=13648539. Retrieved 2008-02-18.
- ^ "hhgregg Launches Gaming Business Across Chain". hhgregg. 2008-11-24. http://press.hhgregg.com/2009/01/hhgregg-launches-gaming-business-across.html. Retrieved 2008-11-24.
- ^ a b Brian Ploskina (January 2008). "A Commitment to Vision". Dealerscope 50 (1). http://www.dealerscope.com.
- ^ "hhgregg Announces Executive Changes". hhgregg. http://press.hhgregg.com/2009/02/hhgregg-announces-executive-changes.html. Retrieved 2009-02-18.
- ^ Tammy Lieber. "Kitchens for the elite: H.H. Gregg goes upscale with Fine Lines appliance store". Indianapolis Business Journal. http://findarticles.com/p/articles/mi_go1582/is_/ai_n9440419. Retrieved 4-1-2008.
- ^ "Product Selection". hhgregg Fine Lines. http://hhgregfinelines.com/finelineshtml/about/selection.html. Retrieved 4-1-2008.
- ^ "hhgregg Fine Lines Store Locator". hhgregg Fine Lines. http://www.hhgreggfinelines.com/storeLocator.html. Retrieved 4-1-2008.
- ^ "hhgregg Inc. Announces Pricing of IPO". http://ir.hhgregg.com/releasedetail.cfm?ReleaseID=255702. Retrieved 2008-02-25.
- ^ "Hi-def highlights 'showroom' part of Lucas Oil sponsorship". The Indianapolis Star. http://www.indystar.com/apps/pbcs.dll/article?AID=2007312110002. Retrieved 2008-02-25.
External links
This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)
