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hhgregg, Inc. Message Board

  • mark.harrison54 mark.harrison54 Oct 27, 2010 6:47 AM Flag

    Annual roundup of new cats has begun!

    Gregg has hired 2,000 employees for this coming Black Friday sales season. Let us look at the employee turn over rate. In Lexington Ky. There are 40 total employees only 7 have more than 1 yr at this location. There have been 121 employees come and go in the past 12 months. They hire anyone who comes in the door. New hires quickly see what is going on in this company and start looking immediately for new jobs. The employees who stay have no other choice, they are unemployable in retail.
    Gregg will start 6 day a week schedule working 11 hr. shifts soon. Oh about 200 hours if trainng per year. It is a joke, you go in 1 hour early every day and have a big fat guy degrade everyone and call it training. Every 6 months all are required to go to Cinn. Ohio for 12 hours of training. Guess what , no one gets paid for this training but the managers. All sales people are commission only. This is the only retailer who requires their employees to attend training and does not pay an hourly training wage. Current employees hate their jobs, but have no where to go in this economy.
    I see Tempur Pedic is now in stores. The only mattresses now sold are the $99 sale ads. Less than 1 % of sales are mattresses. All customers know that Gregg is lets make a deal on everyting. Tempur Pedic will be sorely disappointed. Gregg is too small of a foot print for major roll outs of new technology. Best Buy gets all priority. You can buy a Lexmark printer at Gregg for $129.00 and go online to register at Lexmark and find out that you could have bought it directly from Lexmark for $99.00....
    Problem with Gregg is they want to be a big boy when they grow up. There is no demand for big boys! Gregg sorely lacks in sales managers and managers who sometimes just walk out and quit. Lg has gone to Walmart for distribution in televisions and Gregg is mad at them, Guess who wins that one! So nows Sharp is the flavor of the day. You will see sales are up, but is because of new store openings not YOY.

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    • Mark,

      Passed over for manager, again?

      We are the authors of our own story, happy or otherwise.

      Since you are so obviously under appreciated at HGG, by all means, you should quit HGG immediately (before you do any more damage to the enterprise) and find a career that stirs your passion.

      I suspect that HGG will continue to post excellent growth for the next few years and the stock will continue to outperform the market. HGG reminds me of BBY many years ago when the company was still lean and mean.

      This stock could be $30 by the end of February, if the Xmas season is better than expected by the analysts. This is a distinct possibility, as people have been restraining their spending for the past three year now. There is substantial pent up demand.


    • Why don't you quit already?

      You obviously don't like the company or the working conditions.

      So go somewhere else where you'll be paid for your skills and experience.

      Instead you post on a stock message board about how much you hate your job. Ridiculous.

      You'll probably continue as a mediocre salesperson for awhile, barely covering draw and whining incessantly.

      Carry on I suppose.

    • YOY sales have been up in recent quarters. If YOY is up again this quarter, as I suspect it will, then your credibility is undermined substantially.

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