Conn’s is opening a 656,658-square-foot, multistate logistics distribution center in Houston, establishing more advanced infrastructure as part of the company’s overall growth and development plan.
Conn’s is continuing to expand, entering into its 15th state with a 413,000-square-foot logistics distribution center in Lakeland, FL, which is scheduled to open in August 2020 as the retailer opens stores in the state.
As it looks forward to putting the financial effects of Hurricane Harvey behind it, Conn’s reported second quarter earnings gains.
Conn’s has reached a settlement with the Securities and Exchange Commission. The settlement arises from the previously disclosed SEC investigation commenced in November 2014 into the company’s underwriting policies and bad debt provisions from July 31, 2012, to July 31, 2014.
Conn’s HomePlus is expanding into the San Angelo, TX, market, opening its first store in the Sunset Mall at 4001 Sunset Drive.
Conn’s has reinforced its leadership team with several executive appointments, including chief operating officer, president of retail and chief financial officer.
Conn’s comparable store sales slid in the first quarter but a better gross margin and the company’s improved credit segment performance helped drive earnings up in the period year over year.
The fourth quarter provided a strong finish to Conn’s fiscal year as the company reported growth in sales and net income for the period ended January 31.
Conn’s is expanding into the Montgomery market, the retailer’s second location in Alabama.
As it bolsters its Louisiana presence, Conn’s has announced an expansion into the New Orleans market, with three Conn’s HomePlus stores slated to open this year.
Profits improved for Conn’s in the third quarter ended October 31, as the company posted net income of $14.6 million, or 45 cents per diluted share, versus $1.6 million, or five cents per diluted share, in the year-earlier period.
Conn’s reported its first comparable sales gains in three years and the promotion of John Davis to the post of president of credit and collections.
Conn’s has developed a new store in Virginia Beach, VA, as part of a multi-store opening initiative in the state.
Conn’s has officially broken ground on the future home of the company’s new Houston distribution center.
The July 23 issue of HOMEWORLD BUSINESS® features the 19th annual Impact Merchants special report. Housewares suppliers, representing the categories that HomeWorld covers, once again were asked to nominate buyers and merchandisers believed to have made a significant impact during the past year.
First quarter retail segment sales at Conn’s were down slightly, but company officials noted positive movement toward the end of the quarter driven by growth in comparable store sales in April.
Conn’s, Inc. has closed its amended and restated $650 million asset-based revolving credit facility.
Conn’s posted mixed results in the third quarter, with the retailer growing its net income although comps declined.
Conn’s said that Hurricane Harvey’s impact will hit third quarter results. In its second quarter, the retailer saw comps decline although it did post a profit.
First quarter net sales at Conn’s were down double-digits, but the company reported a smaller net loss for the period ended April 30.