NEW YORK, July 26 (Reuters) - Tougher times are looming for hhgregg, the Indianapolis-based consumer products and electronics retailer, Barron's reported.
Hhgregg's shares have risen 85 percent in the past year, despite the economic downturn and in a time when competitors like Circuit City have gone away.
But now Barron's said there is concern that hhgregg's 113 outlets are concentrated in states hit hard by unemployment. It is also expanding into places already 'overstored,' Barron's said.
(Reporting by Steve Eder) Keywords: HHGREGG/SHARES (Reuters email: steve.eder@reuters.com; +1 646 223 6069) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Hhgregg's shares have risen 85 percent in the past year, despite the economic downturn and in a time when competitors like Circuit City have gone away.
But now Barron's said there is concern that hhgregg's 113 outlets are concentrated in states hit hard by unemployment. It is also expanding into places already 'overstored,' Barron's said.
(Reporting by Steve Eder) Keywords: HHGREGG/SHARES (Reuters email: steve.eder@reuters.com; +1 646 223 6069) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.