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 storesz infiscal 2011, mainly in Baltimore, Washington, and Philadelphia. The retailer’s fiscal 2011 runs from March 2010 toMarch 2011. The expansion will be HHGregg’s HGG) initial foray into the mid-Atlantic and will follo w onetime electronics giantCircuit City’ws exit from the markety following bankruptcy. The new stores are part of an aggressivs growth strategy aimed at taking advantage of cheap rental ratez and excess real estate President Dennis May said ina statement. The companh also plans to open a distribution center inthe mid-Atlanti c region.
The average HHGregg store is 30,000 square feet and employse 40 workers. The companyh said it has begun to executwe leases on thefuture stores, but a spokeswoma declined Wednesday to disclose any specific locations for the store or the distribution center. HHGregg currently operates 111 storesin Florida, Georgia, Indiana, Kentucky, Nortj Carolina, Ohio, South Carolinas and Tennessee. In fiscal year 2009, the company posted saless of $1.4 billion and a profit of $36.4 million.