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Conn's Closing Five Stores

1/20/2012 09:07:16 AM Eastern

Beaumont, Texas - Conn's is closing five stores in Texas and
Oklahoma this month, leaving the multiregional CE, appliance and furniture
chain with 64 locations.

The stores, located in Edmond, Okla., and in Dallas, Houston
and San Antonio, each had average annual revenues of $5 million.

CEO Theo Wright described the closures as "a continuation of
our previously communicated plan to evaluate our existing store base and close
or relocate underperforming stores."

At the same time, Conn's is proceeding with plans to open five
to seven stores
in new and existent markets during its next fiscal year,
which begins in February. New adjacent markets under consideration include Arkansas,
Arizona, Kansas, Mississippi and New Mexico, the company indicated last fall.
Conn's stores are currently located in Texas, Louisiana and Oklahoma.