H.h. Gregg Could 'Surprise to the Upside' On Premium TV Strategy, Analyst Says
Ultra HD TVs are projected to account for 20 percent of TV sales at h.h. gregg during the holiday season, Chief Financial Officer Dennis May said on the company’s Q3 earnings call Thursday. While the CE category remains “challenging,” the…
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retailer’s previously announced strategy to focus on higher margin large-screen and 4K TVs appears to be paying off as stores are seeing growth in the 4K and OLED TV categories, May said. Janney analyst David Strasser said the mix shift to large screen and 4K TVs drove average selling prices higher in the quarter, “partly offsetting substantial declines in units.” H.h. gregg’s decision to opt out of smaller-screen TVs also accounts for “deviation from industry trends,” Strasser said. If that momentum continues, h.h. gregg could “surprise to the upside this holiday,” Strasser said.