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

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The Indianapolis-based company plans to open 40 to 45 new storea infiscal 2011, mainly in Baltimore, D.C., and Philadelphia. The retailer’s fisca l 2011 runs from March 2010 toMarch 2011. The expansion will be HHGregg’ds (NYSE: HGG) initial foray into the mid-Atlanti and will follow onetime electronics giantCircuit City’as exit from the market followingt bankruptcy. The new stores are part of an aggressivde growth strategy aimed at takintg advantage of cheap rental rates and excess realestatw capacity, President Dennis May said in a statement. The companyg also plans to open a distribution center inthe mid-Atlanticx region.
The average HHGreggg store is 30,000 square feet and employ s 40 workers. The company said it has begun to execut e leases on thefuture stores, but a spokeswomanh declined Wednesday to disclose any specific locationes for the stores or the distribution center. HHGregg currentlgy operates 111 storesin Alabama, Florida, Georgia, Indiana, North Carolina, Ohio, South Carolina and Tennessee. In fiscalk year 2009, the company posted sales of $1.4 billioh and a profit of $36.
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