hhgregg announces resignation of COO Gregg W. Throgmartin hhgregg announced that the Board of Directors of hhgregg has accepted the resignation of Gregg W. Throgmartin as the Executive Vice President and COO of the company and as a member of the Board, effective March 31. Throgmartin is leaving the company to pursue outside interests and manage family businesses. The Board announced that it will commence a search for a new COO. In the interim, other operations officers of the company will fulfill the responsibilities of Mr. Throgmartin.
hhgregg downgraded to Sell from Neutral at UBS UBS downgraded hhgregg to Sell citing a weak long-term outlook and risk of customer traffic loss from the retailer's plans to reduce costs. UBS cut its price target for shares to $4 from $6.