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Conn's, Inc.
Type
Public
Traded as NASDAQ: CONN
Industry Retail
Founded 1890 as Eastham Plumbing and Heating Company
1934 as Conn's
Headquarters The Woodlands, Texas, U.S.
Number of locations
112
Key people
Edward Eastham, Founder
Carol Washington Conn, Sr., Chain's namesake
Norm Miller, CEO
Products Consumer electronics
Revenue Increase US$ 836.7 million (2010)
Operating income
Increase US$ 27.4 million (2010)
Net income
Increase US$ 7.7 million (2010)
Total assets Increase US$ 551.4 million (2010)
Total equity Increase US$ 344.3 million
(financials for fiscal 2010) (2010)
Number of employees
2,800 (2010)
Website conns.com

Conn's Inc. is an American furniture, mattress, electronics and appliance store chain headquartered in The Woodlands, Texas, United States. The chain has stores in Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nevada, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington State and Wisconsin. Within Texas Conn's has stores in Greater Houston, the Dallas/Fort Worth Metroplex, Greater San Antonio, Greater El Paso, Greater Corpus Christi, Southeast Texas, and South Texas.

In 1890, Edward Eastham founded Eastham Plumbing and Heating Company in Beaumont, TX. First National Bank of Beaumont took over the company and renamed it Plumbing and Heating, Inc. in 1931. Plumbing and Heating, Inc. hired Carol Washington Conn, Sr. in 1933. He purchased the company one year later and changed the name to Conn Plumbing and Heating Company.

In 1937, Conn's began selling refrigerators and soon added gas ranges to its inventory. By 1940, Conn had purchased a store building and moved the company to 268 Pearl Street in Beaumont. The company's second store opened in 1959 on Eleventh Street in Beaumont. C.W. Conn, Jr. joined the company in 1953 after serving in the Korean War. He recognized that customers needed dependable, quality service and founded Conn's retail service repair and maintenance subsidiary company, Appliance Parts and Service, in 1962. In 1964 he cofounded Conn Credit Corporation, a retail credit financing services company, to provide retail credit financing services to Conn's customers.

Conn, Jr. was named president and chief operating officer in 1966 and served in those capacities until 1976. The Year 1966 found the company with four stores and a total sales volume of $4 million. Lake Charles, Louisiana was the site of Conn's first out-of-state store opened in 1969. A second out-of-state store was opened in Louisiana that same year, making it a landmark year. In 1975, Conn's opened stores in Port Arthur, Orange and Baytown, Texas, as well as one in Lafayette, Louisiana. A second location in Lafayette and new stores in New Iberia and Opelousas, Louisiana soon followed. Conn, Sr. died in 1975 and Conn, Jr. became Chairman of the Board.

Under Conn, Jr.'s direction, Conn's first location in Houston was opened in 1983, with many others to follow in subsequent years. In 1993, Conn's experienced its first $100 million sales volume year and opened its first San Antonio, Texas location. Thomas Frank, Sr. became Chairman of the Board of Conn's in 1994. Under Frank's leadership, the company continued its growth trend and established itself as a major player in the retail sales industry as total sales volume grew to more than $200 million in 1997. In July, 1998, the company reorganized and brought in a new financial partner, The Stephens Group, Inc. Conn's market reach was broadened in 1999, when it opened its first store in Baton Rouge, Louisiana, and again in 2001, 2002 and 2003 when it opened its first stores in Austin, Corpus Christi, and in the Dallas-Ft. Worth Metroplex, respectively. In 2012, Conn's expanded into Arizona with the start of a location in Tucson, Arizona, later in July, they opened a location in Mesa, Arizona near US 60 and Stapley Drive and in August 2013, they opened 2 locations in Phoenix, Arizona at 75th Ave and Thomas Road across from Desert Sky Mall and Tempe, Arizona at Arizona Mills Mall. In November and December 2013, they added 3 new Arizona locations in the cities of Scottsdale, Goodyear and Yuma. In January 2014, the same day the 2nd Albuquerque, New Mexico location, they entered Chandler, Arizona. A 2nd Phoenix location near Metro Center opened in June 2014. A future Arizona location is scheduled in North Tucson at Marana Marketplace at Thornydale and Orange Grove Roads. In 2014, they welcomed new states as Colorado, Tennessee, South Carolina and Mississippi, it's soon in North Carolina and Georgia. The company now offers a full range of products and services at 125 retail locations ranging in a variety of states coast to coast. There was a recent grand opening in Albuquerque in 2014.

By the 2000s the chain, historically based in Beaumont, expanded.

Conn's, Inc. became a publicly traded company on November 25, 2003, when it sold 4.6 million shares in its initial public offering. The company's shares are traded on the NASDAQ Exchange under the symbol CONN. Today, in addition to appliances, electronics, furniture and mattresses, the company offers its customers service, distribution, financing, insurance and other related services.

On July 3, 2014, Conn's was featured in the New York Times in the biweekly column called The Haggler. The article sparked a social media backlash, concentrated around the hashtag "#talktothehaggler". A follow up column, continuing the critique of the company's customer service was printed on July 19. On November 9, 2014, the Haggler column reported that Conn's did not return inquiries about its alleged practices of offering credit to high-risk customers, a lawsuit over which is currently underway."[1]."

Segal reported that, "bonuses for the company’s chief executive, Theodore M. Wright; its chief operating officer, Michael J. Poppe; and its chief financial officer, Brian E. Taylor — named defendants in the suit — were largely tied to the company’s operating income. [Wright's] maximum bonus of $850,000 would be achieved if Conn’s booked $165.8 million in operating income in 2014, according to the suit. The company came close, with $162 million. Mr. Wright took home a $820,000 bonus. The complaint also states that both he and Mr. Poppe also sold shares of Conn’s in 2013, the period when the plaintiffs maintain that those shares were “artificially inflated.” Mr. Wright had not sold any shares since 2007. In 2013, he sold enough to yield $1.9 million. Mr. Poppe cashed out $2.6 million the same year. So top executives at Conn’s made out quite nicely courtesy of the credit-for-all strategy, with big bonuses and marvelously timed stock sales. [2].

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2020 2020-12-08 Future report Set alerts
Q2 2020 2020-09-03 0.75 0.70
Q1 2020 2020-06-09 -1.89 -1.95
Q4 2019 2020-04-14 0.20 0.17
Q3 2019 2019-12-10 0.61 0.39
Q2 2019 2019-09-03 0.62 0.62
Q1 2019 2019-05-31 0.58 0.60
Q4 2018 2019-03-26 0.96 0.91
Q3 2018 2018-12-04 0.59 0.45
Q2 2018 2018-09-04 0.57 0.53

Ratings

2016-06-03 Downgrade Piper Jaffray Overweight to Neutral
2016-06-03 Downgrade Piper Jaffray Cos. Overweight to Neutral
2016-03-31 Reiterated Rating Piper Jaffray Buy
2016-03-30 Lower Price Target SunTrust Buy $28.00 to $22.00
2016-03-30 Lower Price Target SunTrust Banks Inc. Buy $28.00 to $22.00
2016-03-15 Upgrade Stephens Equal Weight to Overweight $27.00 to $29.00
2016-03-08 Reiterated Rating Piper Jaffray Buy
2016-01-13 Downgrade Stifel Nicolaus Buy to Hold $32.00
2015-12-11 Reiterated Rating Piper Jaffray Buy $35.00
2015-12-09 Lower Price Target Stifel Nicolaus Buy $35.00 to $32.00
2015-12-01 Upgrade Stifel Nicolaus Hold to Buy $35.00 to $35.00
2015-09-22 Reiterated Rating Piper Jaffray Buy $37.00
2015-09-15 Downgrade Stifel Nicolaus Buy to Hold
2015-09-15 Reiterated Rating B. Riley Buy $52.00
2015-09-10 Reiterated Rating Piper Jaffray Buy $45.00 to $37.00
2015-09-10 Reiterated Rating B. Riley Buy $52.00
2015-08-17 Reiterated Rating Piper Jaffray Buy $45.00
2015-07-12 Reiterated Rating B. Riley Buy $52.00
2015-07-06 Reiterated Rating B. Riley Buy $52.00
2015-06-05 Reiterated Rating SunTrust Buy $40.00 to $48.00
2015-06-05 Reiterated Rating B. Riley Neutral $52.00
2015-06-04 Boost Price Target Stephens Equal Weight $37.00 to $40.00
2015-06-03 Boost Price Target Stifel Nicolaus Buy $43.00 to $49.00
2015-05-29 Reiterated Rating B. Riley Buy $52.00
2015-05-22 Boost Price Target Stifel Nicolaus Buy $35.00 to $43.00
2015-05-22 Downgrade Oppenheimer Outperform to Market Perform
2015-05-22 Downgrade Oppenheimer Holdings Inc. Outperform to Market Perform
2015-05-11 Boost Price Target Piper Jaffray Overweight $38.00 to $45.00
2015-05-05 Upgrade Oppenheimer Market Perform to Outperform $39.00
2015-04-03 Reiterated Rating B. Riley Buy $52.00
2015-03-27 Upgrade Piper Jaffray Neutral to Overweight $38.00
2015-03-27 Reiterated Rating B. Riley Buy $52.00
2015-03-06 Reiterated Rating SunTrust Buy $30.00 to $35.00
2015-02-09 Upgrade KeyBanc Hold to Buy
2015-02-09 Upgrade Stifel Nicolaus Hold to Buy $33.00
2015-02-09 Upgrade KeyCorp Hold to Buy
2015-02-05 Reiterated Rating B. Riley Buy $52.00
2015-01-21 Reiterated Rating B. Riley Buy $52.00
2014-12-17 Reiterated Rating B. Riley Buy $52.00
2014-12-10 Reiterated B. Riley & Co. Buy $62 to $52
2014-12-10 Reiterated Rating B. Riley Buy $62.00 to $52.00
2014-12-09 Downgrade Canaccord Genuity Buy to Hold
2014-09-03 Lower Price Target Canaccord Genuity Buy $71.00 to $40.00
2014-09-03 Lower Price Target B. Riley $82.00 to $62.00
2014-09-03 Downgrade Stifel Nicolaus Buy to Hold
2014-09-03 Lower Price Target SunTrust Buy $65.00 to $45.00
2014-09-02 Downgrade Piper Jaffray Overweight to Neutral
2014-06-03 Reiterated Stifel Buy $51 to $61
2014-06-03 Boost Price Target SunTrust $55.00 to $65.00
2014-06-03 Boost Price Target Stifel Nicolaus Buy $51.00 to $61.00
2014-06-02 Boost Price Target Canaccord Genuity Buy $60.00 to $71.00
2014-05-01 Reiterated Rating Canaccord Genuity Buy $60.00
2014-03-04 Lower Price Target Oppenheimer Market Perform $44.00 to $36.00
2014-02-20 Downgrade KeyBanc Buy to Hold
2014-02-20 Lower Price Target Canaccord Genuity Buy $88.00 to $60.00
2014-02-20 Downgrade Oppenheimer Outperform to Market Perform $92.00 to $44.00
2014-02-20 Downgrade Stephens Overweight to Equal Weight
2013-12-06 Reiterated B. Riley & Co. Buy $73 to $86
2013-12-06 Reiterated Rating Stifel Nicolaus Buy $74.00 to $87.00
2013-12-06 Boost Price Target B. Riley Buy $73.00 to $86.00
2013-12-05 Boost Price Target Canaccord Genuity Buy $79.00 to $88.00
2013-10-10 Boost Price Target Canaccord Genuity Buy $73.00 to $79.00
2013-10-07 Initiated Coverage Ned Davis Research Neutral
2013-09-17 Reiterated Rating Oppenheimer Outperform
2013-09-05 Reiterated Canaccord Genuity Buy $77 to $73
2013-08-27 Reiterated B. Riley & Co. Buy $65 to $73
2013-08-06 Reiterated Oppenheimer Outperform $65 to $85
2013-07-23 Reiterated Needham Buy $66 to $77
2013-07-23 Reiterated Canaccord Genuity Buy $66 to $77
2013-05-21 Reiterated Canaccord Genuity Buy $53 to $63
2013-04-24 Initiated Oppenheimer Outperform $54
2013-04-04 Reiterated B. Riley & Co. Buy $38 to $48
2013-04-03 Reiterated Canaccord Genuity Buy $41 to $53
2016-06-03 Downgrade Piper Jaffray Overweight to Neutral
2016-06-03 Downgrade Piper Jaffray Cos. Overweight to Neutral
2016-03-31 Reiterated Rating Piper Jaffray Buy
2016-03-30 Lower Price Target SunTrust Buy $28.00 to $22.00
2016-03-30 Lower Price Target SunTrust Banks Inc. Buy $28.00 to $22.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Stephens Group, LLC 14.63%  (5305343) CONN /
SG-1890, LLC 14.63%  (5305343) CONN /
Anchorage Capital Group, L.L.C. 8.15%  (2953958) CONN / HMHC /
STEPHENS HARRIET C 7.70%  (2792920) CONN /
STEPHENS WARREN A 7.70%  (2792920) CONN / DDS /
JACOBY JON E M 1.32%  (476924) CONN / EDEN /
Stephens Caroline A. 1.30%  (472594) CONN /
Paula W. & John P. Calhoun Family Trust UID 6/29/2016 1.11%  (403452) CONN /
Miller Norman President and CEO 1.11%  (401428) CONN / DLLR /
WARREN A STEPHENS GRANTORS TRUST 1.06%  (385350) CONN /
STEPHENS WARREN & HARRIET CHILDRENS TRUST UID 9/30/87 0.86%  (310346) CONN /
STEPHENS HARRIET CALHOUN TRUST UID 3/22/84 0.77%  (279831) CONN /
WRIGHT THEODORE M President and CEO 0.66%  (241092) CONN / TITN /
BRADBURY CURTIS F JR 0.65%  (234972) CONN /
WAS CONN'S ANNUITY TRUST ONE 0.57%  (206116) CONN /
Wright Lee A. EVP and CFO 0.55%  (197645) CONN /
POPPE MICHAEL J Chief Operating Officer 0.44%  (159975) CONN /
Stephens W. R. Jr. 0.42%  (152645) CONN /
TRAHAN DAVID W President- Retail 0.38%  (139134) CONN /
Harwood Clinton W SVP - Information Technology 0.24%  (88728) CONN /
STEPHENS INC /AR/ 0.23%  (82430) CONN /
MARTIN BOB L 0.19%  (68945) CONN / GPS /
JOHN CALHOUN STEPHENS 1995 TRUST 0.16%  (56633) CONN /
WARREN M A STEPHENS 1995 TRUST 0.16%  (56633) CONN /
LAURA WHITAKER STEPHENS 1995 TRUST 0.16%  (56633) CONN /
Daly Brian Chief Human Resources Officer 0.15%  (55806) CONN /
CAMPBELL ELIZABETH STEPHENS 0.15%  (54163) CONN /
Prior Mark A VP, General Counsel and Sec. 0.13%  (48593) CONN /
BROUSSARD WALTER M Senior VP - Store Operations 0.13%  (47202) CONN /
Renaud Todd Vice President - CIO 0.13%  (46879) CONN /
Bchara George L Chief Accounting Officer 0.13%  (46406) CONN /
THOMPSON SCOTT L 0.12%  (44184) ABG / CONN / HWCC / TPX /
Piper Jamie V.P. - Chief Marketing Officer 0.11%  (41158) CONN /
MARTIN DOUGLAS H 0.11%  (38827) CONN /
Gaines Coleman R President of Retail Operations 0.10%  (37014) CONN /
Moran Thomas R EVP and CFO 0.10%  (36515) CONN / WMAR /
Taylor Brian E. CFO/Vice President 0.09%  (32913) CONN / OIS /
Saunders William E Jr 0.07%  (24652) CONN /
MALSON KELLY M 0.07%  (24063) CONN / WRLD /
Luxor Capital Group, LP 0.06%  (21090) AAMC / AMCX / ASPS / AUMA / BAS / BJRI / CLNY / CONN / EAGL / EBIX / HMTV / RCAP / WLH /
Schofman David 0.06%  (20384) CONN /
Haley Mark VP & Chief Accounting Officer 0.05%  (17952) CONN / CWTR /
Bell Robert Frederick VP, General Counsel and Sec. 0.04%  (14792) CONN /
Welch Don Vice President - Real Estate 0.04%  (13033) CONN /
Shein Oded 0.03%  (11817) CONN / SSI /
Moylan Deana Vice Pres. - Human Resources 0.03%  (10552) CONN /
STEPHENS LAURA WHITAKER TRUST UID 12/28/90 0.02%  (6352) CONN /
STEPHENS JOHN CALHOUN TRUST UID 12/1/87 0.02%  (6352) CONN /
STEPHENS WARREN MILES AMERINE TRUST UID 9/10/86 0.02%  (6352) CONN /
HAWORTH JAMES H 0.01%  (4425) CONN /
Dubois David Senior Vice President - Credit 0.01%  (3878) CONN /

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