Welcome to our dedicated page for Conn's news (Ticker: CONN), a resource for investors and traders seeking the latest updates and insights on Conn's stock.
Conn's Inc. (NASDAQ: CONN) is a prominent U.S.-based specialty retailer with a rich history spanning over 125 years. Headquartered in The Woodlands, Texas, Conn's operates more than 175 retail locations across 15 states, including Arizona, Colorado, Louisiana, Mississippi, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, and Texas. The company employs over 4,000 people and generates more than $1 billion in annual revenue.
Conn's offers a broad range of consumer goods and related services through its retail sales outlets and distribution facilities. Their product lineup includes furniture and mattresses, home appliances, consumer electronics, and home office equipment. In addition to its retail operations, Conn's provides a variety of services such as repair service agreements, credit insurance, home delivery, product repair services, and consumer credit options, catering especially to credit-constrained customers, thereby addressing an underserved segment of the population.
The company operates through two distinct segments: Retail and Credit. The Retail segment focuses on selling durable consumer goods, while the Credit segment offers financing solutions to customers who may not qualify for traditional credit. This unique business model allows Conn's to provide flexible payment options and fast delivery and installation services, enhancing the overall customer experience.
Conn's continues to evolve and innovate, ensuring customer satisfaction remains at the forefront of its operations. The company's latest initiatives include a new marketing campaign titled 'Finance Is Not a Bad Word,' which aims to destigmatize financing and empower customers with more payment options. This campaign underscores Conn's commitment to helping customers create homes they love with competitively priced, brand-name products available through personalized payment plans.
In December 2023, Conn's made a significant advancement by acquiring W.S. Badcock LLC, a leading home furnishings company in the southeastern U.S. This all-stock transaction was unanimously approved by Conn’s Board of Directors and is set to transform Conn's into a top-20 furniture and mattress retailer in the U.S. The combined entity is expected to generate approximately $1.85 billion in annual revenue across 240+ corporate-owned stores and 310+ dealer locations.
Norman L. Miller, who has previously served as Conn’s President and CEO, has been reappointed to lead the combined company. The acquisition of Badcock not only expands Conn's geographical footprint but also enhances its eCommerce capabilities and payment offerings, promising significant long-term value for shareholders.
With a focus on customer-centric values, Conn's employs a strategic approach to growth, leveraging its extensive product assortment, experienced staff, and robust credit solutions to drive business success.
Conn’s, a specialty retailer of home goods, announced it received a delinquency notification from Nasdaq due to a delay in filing its quarterly report for the fiscal quarter ending April 30, 2024. The delay pertains to Nasdaq Listing Rule 5250(c)(1). Despite the notice, the listing or trading of Conn’s common stock remains unaffected. The company has until August 19, 2024, to submit a plan to regain compliance. If accepted, Nasdaq may grant Conn’s until December 16, 2024, to file the report, although there is no guarantee these steps will occur.
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