Conn's Inc. is a publicly-traded American retail and consumer finance company that specializes in selling a wide range of consumer goods, including furniture, electronics, appliances, and mattresses. Founded in 1890 and headquartered in The Woodlands, Texas, Conn's has a significant presence in the southern United States. The company operates a chain of retail stores, offering both in-store and online shopping options.
One distinguishing feature of Conn's is its in-house financing and credit programs. The company provides credit options to consumers who may have limited access to traditional financing due to credit history issues. This unique business model allows Conn's to serve a broad customer base, including those with lower credit scores. However, this credit-centric approach has also exposed the company to credit risk and fluctuations in its financial performance.
Conn's operates its retail business in multiple states, primarily in the South, and has been expanding its store count steadily. The company's stores often feature a showroom format, allowing customers to see and test products before making a purchase. This approach is particularly effective for big-ticket items like furniture and appliances.
In addition to retail sales, Conn's generates revenue through its consumer credit segment. This segment offers financing solutions to customers, providing an alternative to traditional lenders. This dual focus on retail and consumer finance has been a key element of Conn's business strategy.