CONNS INC
conns.comNo Longer Reporting
The company has not filed an annual or quarterly report since its FY2024 10-K, filed Apr 18, 2024. Its latest SEC filing is a SCHEDULE 13G/A from Feb 14, 2025.
10-K for FY2024, filed Apr 18, 2024
The sections below describe the company as of the FY2024 annual report.
What Did They Do?
Sells furniture and mattresses, home appliances, and consumer electronics to consumers, while offering financing to shoppers with few other credit options.
10-K for FY2024, filed Apr 18, 2024Conn’s, Inc., a Delaware corporation, is a holding company with no independent assets or operations other than its investments in its…View ↗
Home appliance, including refrigerators, freezers, washers, dryers, dishwashers and ranges. We offer brands such as Samsung, LG, General…View ↗
Credit Segment. Our in-house consumer credit programs are an integral part of our business and are a major driver of customer loyalty. We…View ↗
How Did They Make Money?
Product sales bring in 92% of revenue; Conn’s also earns interest on its customer credit portfolio and repair-agreement commissions when products are delivered, with administration fees spread over the agreement’s life.
10-K for FY2024, filed Apr 18, 2024
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10-K for FY2024, filed Apr 18, 2024
FY2024 revenue by product or service ↗
$1.2B
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10-K for FY2024, filed Apr 18, 2024
$1.2B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product sales
|
92%
FY2021: 70%
|
Product sales, FY2024
$896.8M Sources
|
|
|
Repair service agreement commissions
Mix
|
7.4%
FY2021: 5.7%
|
Repair service agreement commissions, FY2024
$72.7M Sources
|
Mix |
|
Service revenues
|
0.9%
FY2021: 0.9%
|
Service revenues, FY2024
$8.8M Sources
|
Who Were Their Customers?
Working consumers replacing household goods shop at Conn’s stores and websites; Badcock products are also sold through independent dealer-owned stores.
10-K for FY2024, filed Apr 18, 2024We have a well-defined core consumer base that is comprised of working individuals who typically earn between $25,000 to $60,000 in annual…View ↗
We strive to ensure that our customers’ shopping experience at Conn’s is equal to, or exceeds, their experience with other providers of…View ↗
Retail Segment. Conn's began as a small plumbing and heating business in 1890 and started selling home appliances to the retail market in…View ↗
Did Revenues Turn Into Profits?
No. It lost $76.9M in FY2024.
10-K for FY2024, filed Apr 18, 2024
−$125.3MView ↗
10-K for FY2024, filed Apr 18, 2024
−$76.9MView ↗
10-K for FY2024, filed Apr 18, 2024
−$102.3MView ↗
How Were They Changing?
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Aug 1, 2024
Nasdaq begins proceedings to delist Conn’s securities
Nasdaq cited the company’s Chapter 11 filing in deciding it was no longer suitable for listing.
Sources
8-K, filed Aug 1, 2024
Nasdaq reached its decision that the Company is no longer suitable for listing pursuant to Listing Rules 5101, 5110(b), and 5101-1, after…View ↗
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Jul 25, 2024
Conn’s files for Chapter 11 bankruptcy protection
The company said it would continue operating as a debtor in possession.
Sources
8-K, filed Jul 25, 2024
On July 23, 2024, Conn’s, Inc. (“Conn’s”) and certain of its subsidiaries including Conn Appliances, Inc., Conn Credit Corporation, Inc.…View ↗
Shrank. Revenue fell 20% in 4 years, from $1.5B in FY2020 to $1.2B in FY2024, about 5% a year.
Added Badcock dealers
The latest report adds Badcock’s dealer-owned stores, which sell Badcock products; the older report describes Conn’s retail stores.
10-K for FY2021, filed Mar 31, 2021 10-K for FY2024, filed Apr 18, 2024Retail Segment. We began as a small plumbing and heating business in 1890 and started selling home appliances to the retail market in 1937…View ↗
Who Did They Compete With?
Competes with Wal-Mart, Target, Sam’s Club, Costco, Best Buy, Ashley Furniture, Mattress Firm, Lowe’s, Home Depot, Amazon, Wayfair, Aaron’s, and Rent-A-Center
10-K for FY2024, filed Apr 18, 2024Competition. Our competitive strength is based on offering financing options, including our proprietary in-house credit programs, to our…View ↗
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