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, Inc. (NASDAQ: CONN) has announced a conference call scheduled for March 29, 2022, to discuss its fourth quarter fiscal year 2022 financial results. The call will begin at 10:00 A.M. CT and a press release detailing the operating results will be made available before market opening on the same day. Interested participants can join by calling 877-451-6152 or 201-389-0879, and the call will also be accessible via a webcast. Conn's HomePlus operates over 150 stores across 15 states, focusing on home goods and flexible payment options.
Conn's HomePlus (NASDAQ: CONN) is set to open a new store in Abilene, Texas, on March 11, 2022, expanding its footprint in the state. This new location will add to the existing 70 stores in Texas, bringing Conn's total to 159 stores across 15 states and creating over 2,400 jobs in Texas. The 27,000 square foot store will offer a variety of home goods and flexible payment options, emphasizing the company's commitment to providing affordable products and services to its customers.
Conn's HomePlus (NASDAQ: CONN) has opened a new store in Daytona Beach, Florida, marking its 11th location in the state within 13 months, bringing the total to 158 stores across 15 states. The store, spanning over 36,000 square feet, showcases various products, including furniture, mattresses, appliances, and electronics. Conn's offers flexible payment plans catering to all credit situations. CEO Chandra Holt expressed excitement about the company’s growth in Florida and its commitment to positively impacting the community.
Conn’s, Inc. (NASDAQ: CONN) announced its enhanced strategic growth plan during the Investor Day webcast on January 20, 2022. The company aims to drive profitable growth and shareholder value by strengthening its core business, improving its credit division, and expanding eCommerce. Key financial goals include achieving $2.0 billion to $2.2 billion in total revenues with 9%-12% CAGR, increasing eCommerce revenue share to 20%, and maintaining a stable credit business with a high single-digit EBIT margin. CEO Chandra Holt expressed confidence in Conn's unique business model and growth potential.
Conn's HomePlus (NASDAQ: CONN) has donated $174,000 to Step Up For Students, aiding 23 Florida schoolchildren in accessing educational opportunities through the Florida Tax Credit Scholarship Program. This initiative allows students to attend private or alternative public schools. A study indicates that students on scholarships for four or more years are 99% more likely to attend a four-year college and 45% more likely to earn a bachelor's degree. Conn's emphasizes its commitment to community support, assisting families in their educational journeys.
Conn's, Inc. (NASDAQ: CONN), a specialty retailer, announces its 2022 Investor Day webcast on January 20, 2022, at 8:00 a.m. CST. Presentations will include insights from key executives such as Chandra Holt, CEO, and George Bchara, CFO. The event aims to engage investors with company updates and future strategies. Conn's operates over 150 retail locations across several U.S. states, offering products in furniture, home appliances, consumer electronics, and home office supplies, alongside flexible in-house credit options.
Conn's HomePlus (NASDAQ: CONN) has donated over $6,000 in home goods to a wounded veteran through its Conn's Cares initiative, in partnership with nonprofit Helping a Hero. This initiative highlights the company's commitment to supporting veterans and their families during the holiday season.
Since 2017, Conn's Cares has contributed $1 million to local charities, reflecting the company's ongoing philanthropic efforts. Conn's HomePlus operates over 150 locations across several states, offering a variety of products from home appliances to furniture and consumer electronics.
Conn’s, a specialty retailer and provider of consumer credit, will host its virtual Investor Day on January 20, 2022, at 8:00 a.m. CST. The event will feature key presentations from Conn’s leadership, including CEO Chandra Holt and CFO George Bchara, focusing on strategic growth initiatives. Interested parties can pre-register via Conn’s investor relations website. A live webcast and replay will be available post-event. Conn’s operates over 150 retail locations across multiple states, offering a diverse range of products including furniture, appliances, and electronics.
Conn's announced a proposed settlement of a derivative lawsuit, Hack v. Wright, filed in 2014. The U.S. District Court for the Southern District of Texas authorized this notice to all stockholders as of November 24, 2021. The settlement involves a payment of $11 million from the defendants' insurance carriers to Conn's. A hearing on the settlement will occur on February 17, 2022, where the court will determine its fairness and approve or reject the proposal. Current stockholders must file notices of objection to participate in the hearing.
Conn’s has authorized a $150 million share repurchase program set to expire on December 14, 2022. This program is the largest in the company’s history, representing approximately 30% of its market capitalization. CEO Chandra Holt emphasized that this decision reflects the company's strong balance sheet and positive business momentum, aiming to enhance shareholder value. The repurchase may occur through various means, with funding expected from corporate cash and future cash flows.
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