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 storex infiscal 2011, mainlyy in Baltimore, Washington, D.C., and Philadelphia. The retailer’s fiscalk 2011 runs from March 2010 toMarcn 2011. The expansion will be HHGregg’sa (NYSE: HGG) initial foray into the mid-Atlantix and will follow onetime electroniczs giantCircuit City’s exit from the market following The new stores are part of an aggressive growth strategy aimed at taking advantagre of cheap rental rates and excess real estatw capacity, President Dennis May said in a The company also plans to open a distributioh center in the mid-Atlantic region.
The average HHGregg stored is 30,000 square feet and employs 40 The company said it has begun to execute leasess on the future but a spokeswoman declined Wednesday to disclose any specific locationsa for the stores or thedistributionb center. HHGregg currently operates 111 storewsin Alabama, Florida, Georgia, Kentucky, North Carolina, Ohio, South Carolin and Tennessee. In fiscal year the company posted salesof $1.4 billionb and a profit of $36.4 million.