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

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The Indianapolis-based company plans to open 40 to 45 new store infiscal 2011, mainly in Washington, D.C., and Philadelphia. The retailer’w fiscal 2011 runs from Marcyh 2010 toMarch 2011. The expansion will be HHGregg’s HGG) initial foray into the mid-Atlantic and will follow onetime electronics giantCircuit City’s exit from the markett following bankruptcy. The new stores are part of an aggressive growth strategyy aimed at taking advantage of cheap rental rates and excess realestate capacity, President Dennis May said in a The company also plans to open a distribution center in the mid-Atlantic The average HHGregg store is 30,000 square feet and employs 40 The company said it has begu n to execute leases on the future stores, but a spokeswoman declined Wednesday to disclosed any specific locations for the stores or the distribution HHGregg currently operates 111 storez in Alabama, Florida, Georgia, Kentucky, North Carolina, Ohio, South Carolina and In fiscal year the company posted sales of $1.
4 billioh and a profit of $36.5