HHGregg has hired its third chief merchandising officer in just over a year as the Indianapolis-based electronics retailer continues to struggle to overcome plummeting sales of televisions. HHGregg named former Sears marketing executive Jeffery G. Haines as chief merchandising officer.
In the nine months ended Dec. 31, HHGregg saw profits drop 44 percent, and they saw a 22-percent drop in video-category revenue. HHGregg has tried to counter those declines by boosting sales at its 228 stores with a variety of other items, including tablet computers, mobile phones, fitness equipment, furniture and mattresses. But so far it hasn’t been enough.