HHGregg Joins Growing List of Retailers Closing for Thanksgiving

By Trey Thoelcke Updated Jan 13, 2:34AM EST · Published Oct 11, 7:05AM EDT

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HHGregg Joins Growing List of Retailers Closing for Thanksgiving — © Thinkstock

HHGregg Inc. (NYSE: HGG) is the latest retailer to jump on the closed-on-Thanksgiving bandwagon. The Indianapolis-based purveyor of appliances and consumer electronics will close all 220 of its brick-and-mortar stores, claiming to be the first major electronics retailer to announce such a closure.

President and CEO Bob Riesbeck said:

We stand behind our core values and beliefs of being a family-first company. It’s important to us that our associates are able to be home with their families on Thanksgiving, and we are encouraging our customers to do the same – knowing great deals will be available online, on Black Friday and through the weekend.

Its stores will be open at 7 a.m. on Black Friday. And the company said earlier that it planned to add 500 to its workforce ahead of the holiday shopping season.

The company appointed a new chief financial officer and a new chief retail officer back in August. It also recently announced a multiyear partnership with reigning Indianapolis 500 champions Andretti Autosport, and Michael Andretti joined its board of directors. Despite all that, HHGregg shares are trading near their 52-week low, and in fact the stock has traded under $2 per share for the better part of this year. Note that it traded above $20 a share back in 2013.

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BestBlackFriday.com recently put together a list of retailers announcing closures for Thanksgiving:

A.C. Moore (Allow employees to spend time with family)
American Girl
AT&T (Customer Service closed; select retail locations closed)
Barnes & Noble (Allow booksellers to spend time with family)
Bed Bath & Beyond (Select locations)
BJ’s Wholesale Club
Burlington (Allow employees to spend time with family)
Cabela’s (Retail closed; call centers open)
Christmas Tree Shops (Select locations)
Costco
Crate and Barrel
Dillard’s (Allow employees to spend time with family)
GameStop (5 a.m. Black Friday opening)
Gardner-White Furniture (8 a.m. Black Friday opening)
Guitar Center
Hobby Lobby
Home Depot
HomeGoods (Allow employees to spend time with family)
IKEA
Jo-Ann Fabric & Craft Stores
Lowe’s
Mall of America
Marshalls (Allow employees to spend time with family)
Mattress Firm
Menards
Neiman Marcus
Nordstrom (non-store employees working)
Outdoor Research
P.C. Richard & Son
Patagonia
Petco
PetSmart
Pier 1 Imports (Allow employees to spend time with family)
Publix
Raymour and Flanagan Furniture (8 a.m. Black Friday opening)
Sam’s Club
Sierra Trading Post
Staples
The Container Store
T.J. Maxx (Allow employees to spend time with family)
Tractor Supply
Von Maur (9 a.m. Black Friday opening)

Now add HHGregg to that list. Who’s next?

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.