Moving toward the achievement of its store growth target for the fiscal 2015, Conns Inc. CONN inaugurated its first HomePlus store in Spartanburg, SC, on Saturday, Aug 29.
Spanning 38,700 square feet, the new store located at 100 Peachwood Center Drive, Spartanburg, marks Conns’ third store in the state. Conns’ other two South Carolina stores are located in Florence and Greenville.
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 South Carolina’s other stores as well, up to Oct 30, 2015. Also, the new store has generated over 25 employment opportunities for the Spartanburg region.
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 third HomePlus store in the state highlights strong demand and positive response received from South Carolina’s residents.
The robust demand is also largely attributable to Conns’ attractive in-house credit program, YES MONEY. This plan lends customers the option of buying superior products by paying low monthly installments. This strategy of providing customers with an opportunity to purchase the otherwise unaffordable items gives Conns an edge over its competitors, thereby increasing its 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 going forward. Also, the new outlet complements the company’s plan of opening about 20 stores nationwide in fiscal 2015. At present, Conns operates over 90 stores across 12 states.
Zacks Rank
Conns currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same industry include Aaron's, Inc. AAN, with a Zacks Rank #1 (Strong Buy); Best Buy Co., Inc. BBY and hhgregg, Inc. HGG, each with a Zacks Rank #2 (Buy).
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