), a Texas-based durable consumer goods retailer, recently
announced that it has opened two HomePlus stores in Tennessee. The
move reflects the company's strategy to provide more space to its
fastest growing product categories - furniture and mattresses -
which recorded a year-over-year revenue increase of 81.4% in the
fourth quarter of fiscal 2014.
The new stores are located at Cross Creek, 3525 Riverdale Rd,
Memphis, TN 38115 and at Town & Country Commons, 151 N Peters,
Knoxville, TN 37923. Prior to this, in April the company opened two
HomePlus stores in Colorado. So far, Conn's has opened four
HomePlus stores since the beginning of fiscal 2014.
We believe that Conn's continuous efforts to increase store
counts, along with its flexible in-house credit options for its
customers, will boost its top line. The company, in the fourth
quarter of fiscal 2014, unveiled its plan of opening 15-20 stores
in fiscal 2015. As of May 27, Conn's was operating 80 stores of
which 58 are in the HomePlus format.
The company's HomePlus store format mainly offer furniture and
mattresses. Apart from this, the store format also showcases latest
technologies in the consumer electronics and home appliances
categories under the leading brands.
This retail store format has helped this Zacks Rank #3 (Hold)
company to survive in the competitive retail environment. Its major
rivals such as
Best Buy Co., Inc.
) mainly focuses on selling consumer electronics items. However,
with technological advancement, consumers now prefer shopping
online for these items wherein the e-commerce retail giants such as
(EBAY) remain the ultimate gainers.
However, offering furniture and mattresses online is bit of an
expensive affair due to shipping expenses. Moreover, consumers
prefer to shop in person for these items; here Conn's HomePlus
store format gets the advantage.
Founded in 1890 and headquartered in Beaumont, TX, Conns is a
retailer of durable consumer products in the United States. The
company deals in home appliances, furniture and mattresses,
consumer electronics and home office products. Additionally, the
company offers a variety of products on a seasonal basis, including
lawn and garden equipment. The company also provides flexible
in-house credit options for its customers, in addition to
third-party financing programs and third-party rent-to-own payment
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