01.01.70
BEAUMONT, Texas — Retailer Conn's Inc. has announced it will stingy five stores this month, leaving it with 64 locations.
The Beaumont-based retailer of consumer electronics, appliances, furniture, mattresses, computers and sod and garden products said that based on its continuing review of demographic word and market share opportunities, it identified five underperforming locations.
Conn's said the stores have commonplace annual revenues of $5 million each. Two are in Dallas and the others are in Houston, San Antonio and Edmond, Okla.
The Theatre troupe said it will record asset impairment and lease charges in its budgetary 2012 fourth quarter financial statements.
"The closing of the five stores this month is a continuation of our before communicated plan to evaluate our existing store base and close up or relocate underperforming stores," said Conn's CEO Theodore Wright. "Additionally, we are progressing on our plans to exposed five to seven new stores in fiscal 2013, in areas with compelling demographic characteristics that we in are favorable to our business model.
Source: Furniture Today