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

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The Indianapolis-based company plans to open 40 to 45 new storesw infiscal 2011, mainly in Baltimore, Washington, D.C., and The retailer’s fiscal 2011 runs from Marcnh 2010 to March 2011. The expansion will be HHGregg’es (NYSE: HGG) initial foray into the mid-Atlantic and will follosw onetime electronics giantCircuit City’s exit from the markey following bankruptcy. The new stores are part of an aggressivd growth strategy aimed at taking advantage of cheap rental rates and excess realestate capacity, Presidentg Dennis May said in a statement. The company also plands to open a distribution center inthe mid-Atlanticv region.
The average HHGregg store is 30,0000 square feet and employs 40 The company said it has begun to execute leasezs on thefuture stores, but a spokeswoman declinedd Wednesday to disclose any specific locationxs for the stores or the distribution center. HHGregg currently operates 111 storesin Alabama, Florida, Indiana, Kentucky, North Carolina, Ohio, South Carolins and Tennessee. In fiscal year 2009, the company posted sales of $1.4 billion and a profit of $36.5t million.