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HhGregg Inc: The Well Known American Retailer of Electronics
Hhgregg Inc., formerly known as Gregg Appliances, Inc. is an American publicly owned and operated retailer of consumer electronics and home appliances in the Northeast, Midwest and Southeast United States. It is operating in 20 states, including Alabama, Florida, Delaware, Illinois, Indiana, Louisiana, Georgia, Maryland, Kentucky, Ohio, Mississippi, New Jersey, Pennsylvania, North Carolina, Virginia, South Carolina, and Tennessee. Approximately, it has employed 5,124 full time staff members to work across its nationwide stores. It was founded in the year 1955 at Princeton, Indiana with its headquarters in Indianapolis, Indiana. It offers a wide range of retail products, which include televisions, DVD recorders, home appliances such as refrigerators, dishwashers, freezers, washers, and dryers, audio hardware, computers, mattresses and other selected accessories and consumer electronics. “Gregg’s Got It!”, is the company’s current motto.
Current Market Value
The company reported revenue of US$ 1.91 billion in the trailing twelve months. During the same period, it had revenue per share of US$ 68.86. The profit margin and operating margin of the company was reported as -3.23 percent and -1.72 percent respectively. Under the sector of effective management, there was -4.78 percent returns on assets and -48.72 return of equity in the trailing twelve months. The company accounted to a gross profit of US$ 553.78 million. By the virtue of its cash flow statement, in the trailing twelve months, it has reported an operating cash flow of US$ -10.47 million and levered cash flow of US$ -17.48 million. As of July 2014, the company was operating in 228 locations across the United States. According to the reports on March 31, 2016 the company’s net income was US$ 54,879. By the end of fiscal year fiscal year 2016, the company’s net income was US$ 54,879. It had its initial public offering on July 20, 2007, at US$13.72. It is traded on the New York Stock Exchange under the ticker symbol HGG.
Henry Harold and Fansy Gregg erected a small storefront in 1955, on the north side of Indianapolis. The store initially featured home appliances such as clothes dryers, washing machines, refrigerators, and grills later they began to sell televisions and other electronics. Jerry W. Throgmartin worked his way through many positions in the company over a span of 24 years, and in 1999, took over his father’s position as Chairman, CEO, and Director of Hhgregg Appliances and Electronics.
The company announced about its plan to open 22 stores in the following year, on July 8, 2009. Then the, Executive Chairman Throgmartin long with the President come CEO, Dennis L. May expanded the business to 125 stores in 9 states as of October 2009. During the fall of 2010, hhgregg opened several stores in former Circuit City locations in Virginia and Maryland. May resigned as CEO, in February 2016, and Robert Riesbeck was named interim CEO. Riesbeck succeeded May from August 2016, as the permanent CEO.
Hhgregg has put forth a surprisingly strong performance with the exception of a weaker profit margin. Five out of seven passing grades are nothing to sneeze at, given that no stocks are perfectly reliable. One evidently obvious reason to appreciate hhgregg in spite of its flaws is that it is still profitable. Currently, Hhgregg has some of the qualities that make up a great stock even though not a perfect stock. According to the analysts digging deeper only can help you uncover the answers you need to make a great buy through investing the HhGregg shares. Its properties are worth investing in if you are looking for better returns in future.
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