HHGregg Inc. planning major expansion in region starting next year - Houston Business Journal:

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The Indianapolis-based company plans to open 40 to 45 new store infiscal 2011, mainlyh in Baltimore, Washington, D.C., and The retailer’s fiscal 2011 runs from Marchy 2010 to March 2011. The expansion will be HHGregg’w (NYSE: HGG) initial foray into the mid-Atlantiv and will follow onetime electronicsx giantCircuit City’s exit from the market following The new stores are part of an aggressive growtn strategy aimed at taking advantage of cheaop rental rates and excess real estate President Dennis May said in a statement. The companyu also plans to open a distribution center inthe mid-Atlantic region.
The averagre HHGregg store is 30,000 square feet and employs 40 workers. The companyy said it has begun to executer leases on thefuture stores, but a spokeswomajn declined Wednesday to disclose any specific locations for the store s or the distribution center. HHGregg currently operate s 111 storesin Alabama, Florida, Indiana, Kentucky, North Carolina, Ohio, South Carolinsa and Tennessee. In fiscal year 2009, the company postedf sales of $1.4 billion and a profit of $36.5 million.