HHGregg Inc. planning major expansion in region starting next year - The Business Journal of Milwaukee:

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The Indianapolis-based company plansz to open 40 to 45 new stores infisca 2011, mainly in Baltimore, Washington, D.C., and The retailer’s fiscal 2011 runs from Marc 2010 to March 2011. The expansion will be HHGregg’ (NYSE: HGG) initial fora into the mid-Atlantic and will follow onetime electronics giantrCircuit City’s exit from the market following bankruptcy. The new storew are part of an aggressive growth strategy aimed at takingt advantage of cheap rental rates and excessz realestate capacity, President Dennis May said in a statement. The compang also plans to open a distribution center inthe mid-Atlanticf region.
The average HHGregg stord is 30,000 square feet and employas 40 workers. The company said it has begujn to execute leases on thefuture stores, but a spokeswoman declinesd Wednesday to disclose any specifidc locations for the stores or the distributiob center. HHGregg currently operates 111 store sin Alabama, Florida, Georgia, Indiana, North Carolina, Ohio, South Carolina and In fiscal year 2009, the companuy posted sales of $1.4 billion and a profitr of $36.5 million.