hhgregg Stores Add Workforce
Leading specialty retailer of premium video products, branded appliances, audio products and accessories, hhgregg, Inc. (HGG) is hiring people in sales and hourly positions for its new stores across U.S.
The company recently announced new job openings for its stores. On September 17, 2012, it announced the need for 60 sales and hourly positions for a new store in Louisiana and 120 sales and hourly positions for two new stores in Los Angeles, scheduled to open this fall.
The new recruits will work as commissioned sales associates, managers-in-training, warehouse staff and customer service merchandisers for the company’s new stores.
The selected employees will undergo a comprehensive training program to be well equipped to answer all product-related questions to customers.
The requirement for the new employees is obviously the result of new store openings. hhgregg is busy expanding its network throughout U.S. so that it can reach more and more customers and boost its sales. On September 13, 2012, the company opened two new stores in the Springfield-Champaign area.
On the same day it also inaugurated four new stores in the St. Louis, Missouri area. The new store openings are part of the company’s ongoing commitment to expanding operations in the Midwest.
The new stores will display wide range of televisions, appliances and electronics for sale.
During its fiscal 2013 earnings call, management announced that it is launching new categories of products including home entertainment, related furniture, and fitness equipment. The company has also arranged for special financing options for its customers.
hhgregg implemented several initiatives in fiscal 2012 to drive additional traffic and increase sales. The company expanded its computing and mobile phones category, which previously only included computers and tablets. It has also introduced notebooks and desktops along with Verizon (VZ) smartphones in its stores. The company also restructured its in-store management team to include an appliance sales manager and a dedicated consumer electronics manager.
Further, hhgregg plans to open 20 to 22 new stores in fiscal 2013, predominately in the markets of St. Louis, Missouri and Milwaukee, Wisconsin. We appreciate the decision to open new stores as it creates new jobs in the area and also indicates a gradual recovery in economic conditions.
hhgregg primarily competes with Best Buy Co. Inc. (BBY). We currently have a long-term Neutral recommendation on the stock with a Zacks #3 Rank (short-term Hold rating) on the stock.
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