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The Company is a retailer of video products, brand name appliances, audio products and accessories and currently operates stores in Ohio, Indiana, Georgia, Tennessee, Kentucky, North Carolina, South Carolina and Alabama.
H.H. Gregg sells large, high ticket items like televisions, appliances, and mattresses. This business has large entrenched competitors that are not going away. Costco, Sam's Club, Home Depot, Lowe's. Amazon threatens to move these products to an Internet sales venue. The television market is historically bust and boom. All their products are purchased very infrequently by consumers, so there is no regular walk through traffic. Now same store sales are down at a time when new construction and big ticket retail is rising. This is a signal that the thesis behind these stores is flawed.
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