Profile: Conns Inc (CONN.OQ)
11 Dec 2013
Conn’s, Inc. is a holding company. The Company is a specialty retailer of durable consumer products, and it also provides consumer credit to support its customers’ purchases of the products that it offer. The Company derives revenue primarily from two sources: retail sales and delivery of consumer electronics, home appliances, furniture and mattresses, lawn and garden equipment and repair service agreements, and its in-house consumer credit program, including sales of related credit insurance products. Through its in-house consumer credit programs, it provides financing. In addition, it offers third-party payment options through GE Capital, for customers with high credit scores, and RAC Acceptance, a rent-to-own payment plan for customers that do not qualify for the other options it offer. The Company offers over 2,100 product items, or stock keeping units (SKUs) in its retail product categories, which include consumer electronics, home appliances, furniture and mattresses and home office. In December 2012, the Company opened three Conns HomePlus stores in El Paso and Fort Worth, Texas and Tucson, Arizona. In February 2013, it announced the the sale and long-term lease back of four owned properties to STORE Capital Acquisitions, LLC.
The Company’s consumer electronics category includes light emitting diode (LED), liquid crystal display (LCD), plasma, digital light processing (DLP) and Three Dimensional (3-Done) televisions, camcorders, digital cameras, Blu-ray and digital versatile disc (DVD) players, video game equipment and software, portable audio, moving picture experts group layer-3 audio (MP3) players and home theater products. It represents such brands as Samsung, Sony, LG, Toshiba, Panasonic, Mitsubishi, Nintendo and Bose. The Company’s home appliances category includes refrigerators, freezers, washers, dryers, dishwashers, ranges and room air conditioners. It represents such brands as Whirlpool, Maytag, Frigidaire, Kitchen Aid, Samsung, LG, General Electric, Haier, Dyson, Eureka and Friedrich. Its Furniture and Mattresses category includes living room, bedroom and dining room furniture and related accessories. The Company represent such brands as Serta, Therapedic, Leggett & Platt, Franklin, Albany, Home Stretch, Vaughn Bassett, Harden, Steve Silver and Jackson Furniture.
The Company’s Home office category includes desktop, notebook, netbook and tablet computers, printers and computer accessories. The Company represent such brands as Hewlett Packard, Toshiba, Sony, Samsung, Dell and Asus. As of December 31, 2011, the Company offered its products through 65 retail stores located in three states: Texas (57), Louisiana (six) and Oklahoma (two), as well as through its Website. The Company sells its products for cash or for payment through credit cards, in addition to offering its customers several financing alternatives through its credit programs and third-party financing. The Company purchases products from over 200 manufacturers and distributors.
Sears, Wal-Mart, Target, Sam’s Club, Costco, Best Buy and Rooms To Go, Lowe’s and Home Depot.
3295 College Street
BEAUMONT TX 77701