Home appliance store hhgregg is following in the footsteps of many other large retailers in 2017. The company announced plans yesterday to close 40 percent of its brick-and-mortar stores. Before the end of April, the Indianapolis-based chain plans to have 88 stores shuttered, which includes four in Ohio.
“We are strategically exiting markets and stores that are not financially profitable for us,” stated hhgregg President and CEO Robert Riesbeck in a statement issued yesterday. “This is a proactive decision to streamline our store footprint in the markets where we have been, and will continue to be, important to our customers, vendor partners and communities.”
The only store in Central Ohio to be closed is the Newark/Heath location. The five other Central Ohio stores will remain open at Easton, Grove City, Reynoldsburg, Hilliard and Dublin.
“We feel strongly that the markets we will remain in are the right ones for our customers and our business model,” added Riesbeck. “Our team is dedicated to moving forward and being a profitable 132 store, multi-regional chain where we will continue to be a dominant force in appliances, electronics and home furnishings.”
Other big box and mall stores to announce store closures so far in 2017 include J.C. Penney’s, Macy’s, Wet Seal, The Limited, American Apparel, Sears and Kmart.
For more information, visit www.hhgregg.com.