We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
hhgregg (HGG) Strategic Efforts Bode Well: Should You Add?
Read MoreHide Full Article
hhgregg, Inc. appears promising buoyed by its strategic efforts and savings initiatives. The stock carries a Zacks Rank #2 (Buy) and has a long-term earnings growth rate of 10%. Also, the share price has rallied nearly 22% over the past three months.
hhgregg has taken several initiatives to revive its business, which encompass driving store traffic, enhancing brand recognition, cost containment and multi-channel approach. Notably, product innovation, discounts and promotional offers, improvement in home-delivery facilities, exit from underperforming businesses and store openings are some of the measures undertaken by the company to boost sales.
The company’s strategic efforts have led to improvement in its appliances, premium TV and furniture categories. Also, the company has started displaying furniture at the front part of its stores, making it easier for customers to see the assortment immediately after entering the location. Further, the company is revamping its stores in order to drive overall sales. hhgregg expects the home products category, specifically furniture, to aid growth in the upcoming quarters.
Moreover, hhgregg is focused on innovations like 4K ultra high definition, curve TVs and OLED TVs to boost category sales of consumer electronics. The company will continue to utilize its financing options to drive sales in consumer electronics business. Further, to revive the appliance business, the company plans to refresh the assortment across channels while continuing to enhance its product selection by creating additional Fine Lines departments.
Alongside, hhgregg has been focusing on its e-commerce business. Also, the company has invested in infrastructure upgrades, additional web application capabilities, expansion of the assortment and a new mobile app to boost the e-commerce business.
We note that hhgregg has been reporting losses and declining revenues for the past many quarters, primarily due to weak comparable store sales. However, we believe that the company has undertaken strategic endeavors to bring itself back on the growth trajectory.
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
hhgregg (HGG) Strategic Efforts Bode Well: Should You Add?
hhgregg, Inc. appears promising buoyed by its strategic efforts and savings initiatives. The stock carries a Zacks Rank #2 (Buy) and has a long-term earnings growth rate of 10%. Also, the share price has rallied nearly 22% over the past three months.
HHGREGG INC Price and Consensus
HHGREGG INC Price and Consensus | HHGREGG INC Quote
Strategic Efforts
hhgregg has taken several initiatives to revive its business, which encompass driving store traffic, enhancing brand recognition, cost containment and multi-channel approach. Notably, product innovation, discounts and promotional offers, improvement in home-delivery facilities, exit from underperforming businesses and store openings are some of the measures undertaken by the company to boost sales.
The company’s strategic efforts have led to improvement in its appliances, premium TV and furniture categories. Also, the company has started displaying furniture at the front part of its stores, making it easier for customers to see the assortment immediately after entering the location. Further, the company is revamping its stores in order to drive overall sales. hhgregg expects the home products category, specifically furniture, to aid growth in the upcoming quarters.
Moreover, hhgregg is focused on innovations like 4K ultra high definition, curve TVs and OLED TVs to boost category sales of consumer electronics. The company will continue to utilize its financing options to drive sales in consumer electronics business. Further, to revive the appliance business, the company plans to refresh the assortment across channels while continuing to enhance its product selection by creating additional Fine Lines departments.
Alongside, hhgregg has been focusing on its e-commerce business. Also, the company has invested in infrastructure upgrades, additional web application capabilities, expansion of the assortment and a new mobile app to boost the e-commerce business.
We note that hhgregg has been reporting losses and declining revenues for the past many quarters, primarily due to weak comparable store sales. However, we believe that the company has undertaken strategic endeavors to bring itself back on the growth trajectory.
Other Stocks to Consider
Other favorably placed stocks in the retail sector include Urban Outfitters Inc. (URBN - Free Report) , Tilly's, Inc. (TLYS - Free Report) and The Children's Place, Inc. (PLCE - Free Report) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>