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hhgregg Electronics Plans To Open Stores In Chicago

CHICAGO (CBS) -- Electronics retailer hhgregg plans to open at least 20 stores in the Chicago area beginning this fall, a company spokeswoman confirmed on Wednesday.

The expansion of the Indianapolis electronics chain will mean an additional 900 jobs for Chicagoland.

The new store locations include Schaumburg, Niles and Vernon Hills, the Chicago Tribune reported.

hhgregg, founded in 1955 by H.H. and Fansy Gregg, operates 173 stores in Alabama, Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia.

In the third quarter, the company reported an 30.6 percent increase in sales to $653.7 million, while net income increased 18.4 percent to $26.9 million.

In January, hhgregg President Dennis May, said: "We continue to be pleased with our new store performance despite challenging economy and current industry headwinds. Our new store productivity remains strong and we continue to identify and secure exciting new locations which continue to move us another step closer towards our goal of becoming a national retailer."

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