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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 HomePlus (NASDAQ: CONN) partnered with the Houston Texans to donate $15,000 each to three families from the Boys and Girls Clubs of Greater Houston during a game on December 12, 2021. This marks a total of $1 million donated since 2017 through Conn's Cares, the company's charitable arm. The donations aim to provide essential furniture and appliances, contributing to the community's welfare. The partnership reflects Conn's commitment to giving back and highlights the positive impact of community involvement.
Conn's, Inc. (NASDAQ: CONN) reported strong financial results for the third quarter ending October 31, 2021. Same store sales surged by 20.6% year-over-year, while total retail sales increased 28.8% to $334.8 million. Net earnings rose 140% to $0.60 per diluted share, compared to $0.25 in the prior year. E-commerce sales skyrocketed by 294.8% to a record $19.2 million. The company opened two new stores, expanding its footprint to 157 stores across 15 states. Conn's maintained a strong liquidity position with $320.5 million in available borrowing capacity.
Conn's, Inc. (NASDAQ: CONN), a specialty retailer based in The Woodlands, Texas, has scheduled a conference call for December 7, 2021, at 10:00 A.M. CT to discuss its third quarter fiscal year 2022 financial results. A press release detailing the operating results will precede the call, released before the market opens on the same day. Conn's operates over 150 locations across 14 states, specializing in products such as furniture, home appliances, consumer electronics, and providing in-house credit options.
Conn’s, Inc. (NASDAQ: CONN) reported strong financial results for the quarter ending July 31, 2021, with net earnings of $1.22 per diluted share, up from $0.70 year-over-year. Total retail sales surged 24%, driven by a 16.4% increase in same-store sales, the highest growth in seven years. E-commerce sales skyrocketed 210.9%, reaching a record $17.3 million. The company reduced total debt by 41%, and the provision for bad debts decreased significantly. Conn’s raised its same-store sales growth outlook for FY 2022 to mid-teens. CEO Chandra Holt expressed optimism about the company’s future.
Conn's, Inc. (NASDAQ: CONN) announced a conference call on September 1, 2021, at 10:00 A.M. CT to discuss its second quarter fiscal year 2022 financial results. The call will follow a press release detailing operating results, which will be issued before the market opens that day. Conn's HomePlus operates over 150 retail locations across multiple states and offers a wide range of products, including furniture, home appliances, consumer electronics, and home office products, along with flexible in-house credit options.
Conn's has appointed Chandra Holt as the new Chief Executive Officer and President, effective August 9, 2021, as part of a multi-year succession plan. She succeeds Norm Miller, who will transition to Executive Chairman. Holt brings a wealth of experience from leading Walmart's U.S. eCommerce division and is expected to drive growth through innovative and customer-focused strategies. Under Miller's leadership, Conn's achieved significant financial improvements and built a strong credit platform. The company operates over 150 retail locations, offering a range of home products and flexible credit options.
Conn's HomePlus (NASDAQ: CONN) has donated nearly $21,000 in brand-name appliances to Ronald McDonald House Charities of Central Florida. The donation includes six washer and dryer pairs, three ovens, three dishwashers, and three microwaves to support families with children receiving treatment at a local pediatric hospital. Since 2017, Conn's Cares has contributed almost $886,000 to various charitable organizations. Chairman and CEO Norm Miller emphasized the importance of giving back to the community to help families feel at home during their difficult times.
Conn's, Inc. (NASDAQ: CONN) expands its footprint with a new showroom in Orange City, Florida, opening on June 25, 2021. This new location marks the ninth store in Florida and contributes to a total of 154 stores across 15 states. The store covers over 42,800 square feet, showcasing a wide range of home goods such as furniture and electronics. Conn's HomePlus aims to cater to various customer credit needs with flexible payment options, enhancing its service in the Orlando market.
Conn's, Inc. (NASDAQ: CONN) has opened its first showroom in Lakeland, Florida, expanding its presence in the state to eight locations. The new store, situated at 8401 FL-33 North, Suite 180, is set to open on June 18, 2021. This follows the establishment of a distribution center in Lakeland last year, contributing to the company's total of 153 stores across 15 states. The showroom spans 20,000 square feet and offers a variety of home goods, alongside flexible payment plans tailored to customers' needs.
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