In line with its growth plan for the year, Conns Inc. CONN celebrated the grand opening of its new HomePlus store in El Paso, TX, that took place on Saturday.
Spanning 40,000 square feet, the new store located at 1971 Zaragosa Road, marks Conns’ second store in the city and its 55th one in the state. Conns has another store in EI Paso at 6101 Gateway West.
Celebrations to mark the opening included lucrative offers, like various gift card giveaways, storewide promotions and a chance to win free shopping worth $10,000. In fact, the shopping spree option will be available at EI Paso’s other store as well, up to Oct 30. Also, the new store is expected to generate over 20 employment opportunities.
Conns’ HomePlus stores offer superior-quality products at reasonable prices. These stores specialize in furniture and mattresses, home appliances, consumer electronics and home office products. The company’s second HomePlus store in the city highlights strong demand and positive response received by the company from EI Paso’s residents.
The robust demand is also somewhat accountable to Conns’ attractive in-house credit program, YES MONEY. This program lends customers the option of buying superior products by paying low monthly installments. This strategy of providing customers an opportunity to purchase the otherwise unaffordable items gives Conns an edge over its competitors, thereby increasing the company’s popularity and enhancing customer relations.
We believe that Conns’ continuous efforts to increase store count, along with its flexible credit options for customers, will boost its performance. Also, this complements the company’s plan of opening 15–18 stores nationwide in fiscal 2015. The company currently operates over 90 stores across 11 states.
Zacks Rank
Conns currently carries a Zacks Rank #2 (Buy). Other stocks that warrant a look in the retail sector include GOME Electrical Appliances Holding Limited GMELY, with a Zacks Rank #1 (Strong Buy), Aaron's, Inc. AAN and Target Corp. TGT, each carrying a Zacks Rank #2.
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