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HHGregg Joins Growing List of Retailers Closing for Thanksgiving

Trey Thoelcke

HHGregg Inc. (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.

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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.

ALSO READ: 8 Big Stocks Analysts Want You to Sell Now

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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