By Lisa Johnston
New products on display at the American International Toy Fair, held in N
The Woodlands, Texas — Multiregional majap, furniture and CE chain Conn’s raised its store count to 74 locations with this week’s opening of two new stores in Houston and Tempe, Ariz.
Both stores employ the retailer’s updated HomePlus format, which allocates greater floor space to its high-growth furniture and mattress categories. Chairman/CEO Theo Wright reported in April that average revenue at the five newest HomePlus stores was 1.6 times the overall company average from January through March, while more recently Conn’s said furniture and mattress sales rose more than 70 percent during the quarter ended April 30, and accounted for 26 percent of total product sales during the period.
The Tempe store represents the chain’s third in Phoenix and its fourth location in Arizona.
Conn’s entered Arizona last December and opened its first New Mexico location in November. It now operates two stores in that state, in Albuquerque and Las Cruces, and will soon extend its Southwest foray to Nevada.
The company said it plans to open 10 to 12 new stores in total this year, including additional locations in Arizona, and will begin upping the pace of expansion in 2015. It ultimately envisions itself as a 200-store chain that spans the southern tier of the U.S. from Colorado to the Carolinas.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.