Conn’s to close five stores

Beaumont, Texas -- Conn’s announced that it plans to close five underperforming stores during January 2012.



“The closing of the five stores this month is a continuation of our previously communicated plan to evaluate our existing store base and close or relocate underperforming stores. Additionally, we are progressing on our plans to open five to seven new stores in fiscal 2013, in areas with compelling demographic characteristics that we believe are favorable to our business model,” commented Theodore Wright, the company’s CEO.



The stores, which had average annual revenues of $5 million per location, and are located in Edmond, Okla.; Houston; San Antonio; and two in Dallas. Once the stores are shuttered, Conn’s will have 64 retail locations.