hhgregg, Inc. (NYSE:HGG) has engaged Miller Buckfire & Co., LLC, and Stifel Nicolaus & Co., Inc. to pursue a range of prospective financial and strategic transactions that will support the firm’s initiatives to enhance liquidity and return to profitability.
The buzz
Robert J. Riesbeck, the CEO and President of Hhgregg, reported that they are dedicated to enhancing their results through their business plan, comprising investments done to shift their focus to furniture and appliances, and additional anticipated cost decline. They consider it is the right time to assess possible strategic deals. As the firm commences this assessment process, they are focused on the implementation of their business plan and remain entirely committed to serving customers’ needs.
Miller Buckfire and Stifel Nicolaus have been engaged as hhgregg’s investment banker and financial advisor. The firm, working with its advisers, intends to proceed in an orderly and timely manner, but has not planned a definitive timetable for closure of this procedure. There can be no certainty that this review process will lead in a transaction or other strategic option of any kind. The firm does not plan to disclose developments or offer updates on the status or progress of this procedure unless it deems further disclosure is required or appropriate.
hhgregg is an appliance, furniture and electronics retailer that is dedicated to providing customers with a differentiated purchase experience via superior customer service, the best quality product selections and knowledgeable sales associates. Founded in 1955, the company is a multi-regional retailer presently with 220 outlets in 19 states that also provides market-leading local and global brands at value prices countrywide via hhgregg.com.
In the last trading session, the stock price of hhgregg jumped over 7% to close the session at $0.463. The gains came at a share volume of 583,278 compared to average share volume of 465,449.
THE MORNING REPORT
Start your workday the right way with the news that matters most.
Your information is 100% secure with us and will never be shared Disclaimer & Privacy Policy
