When Hhgregg started opening stores like crazy a couple of years ago around the time of the demise of Circuit City, we thought the whole thing seemed misguided. Why would there be room for another electronics chain shooting for a national reach when one just collapsed?
Well, for now the company is proving us wrong.
Hhgregg released its preliminary third-quarter results, and it looks like the chain had a pretty good holiday season, with same-store sales rising 4%, it's second straight quarter with positive comps, with strong performances in appliances and home office. That store expansion isn't slowing, either, as the company plans to open 35 new stores over its current fiscal year.
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