A fast-growing chain of appliances and electronics will soon open its first Nashville-area store, taking aim at regional players such as Electronic Express and hh gregg.
Texas-based Conn's Inc. is placing its first Middle Tennessee location at the Rivergate Station development on Gallatin Pike. The company recently set up shop in the Memphis market and later this week will open its second location in Knoxville. Those openings come on the heels of the company's withdrawal last month from a big-box store buying group.
Conn's runs about 80 stores in Texas, Louisiana, Oklahoma, New Mexico, Arizona and Tennessee. The company's lineup ranges from refrigerators and freezers to washers and dryers and a variety of consumer electronics and furniture. In its fiscal 2013, it booked a profit of $93.4 million on sales of almost $1.2 billion. Those numbers were up 78 percent and 38 percent, respectively, from the year before.
Conn's has a market capitalization of about $1.6 billion. The company's shares (Ticker: CONN) are down more than 40 percent year to date but have still risen almost 50 percent since the end of 2012.