Appliance, electronics and furniture retailer h.h. gregg is getting a makeover. The brand transformation will encompass all customer touchpoints, including its 228 store locations and online presence. The first phase of h.h. gregg's brand transformation launches this week. "Our brand transformation is the foundation for our differentiation from other retailers," said Dennis May, president and CEO of h.h. gregg. "By eliminating pain points that most often frustrate customers buying large appliances, electronics, furniture and similar items from big-box and DIY retailers, we can help bring the joy back to making these purchases and create lifelong customers."
Indianapolis -- Hhgregg reported Thursday a loss of $5.7 million for the quarter ended June 30, compared with a loss of $0.8 million in the year-ago period. The electronics and appliances retailer cited higher expenses coupled with same-store sales declines for the poor performance. Net sales increased 13.5% to $489.9 million from $431.5 million, and same-store sales decreased 5.1%. “Our first fiscal quarter proved to be more challenging than anticipated with sales and earnings coming in below our original expectations,” said Dennis May, president and CEO. “We reacted to the sales shortfall by making adjustments to our cost structure.
For the last 25 years, Dennis May has been involved in the retail industry — and he's loved every second of it. From his modest beginning selling audio equipment to help support himself while in college (that was the cool job at the time, May recalls) to his tenure today as president and CEO of one of the fastest-growing cross-channel retail brands out there, the one constant has been retail. But that's just part of the reason we've chosen May as our 2011 cross-channel retailer of the year.
Indianapolis-based hhgregg Inc. expects to enter the Pittsburgh, Chicago and Miami markets in 2011. "Our new store productivity remains strong, and we continue to identify and secure exciting new locations, which continue to move us another step closer toward our goal of becoming a national retailer,” said Dennis May, president and CEO of hhgregg. The electronics and appliance retailer plans to enter Pittsburgh this spring, Miami in the summer and Chicago in the fall. Work already has begun on putting stores in Cranberry, West Mifflin, Wilkins and North Fayette, Pa., according to township records. Store officials estimate that the
"Our new store productivity remains strong, and we continue to identify and secure exciting new locations, which continue to move us another step closer toward our goal of becoming a national retailer," said Dennis May, president and CEO of hhgregg.