Texas-based Conn's joins city roster of consumer electronics retailers

Feb 15, 2008 (The Oklahoman - McClatchy-Tribune Information Services via COMTEX) -- ODP | news | PowerRating | PR Charts -- Oklahoma City's roster of consumer electronics and home furnishing retailers has been joined by a fresh face in the lineup.

Beaumont, Texas-based Conn's Inc. recently opened its first Oklahoma retail store at 3315 Northwest Expressway in a 25,000-square-foot former Office Depot location across from Integris Baptist Hospital. It is the first of up to five Oklahoma City-area stores envisioned by Conn's executives.

Conn's operates 68 retail stores in a three-state region with most of the stores clustered in south Texas, as well as Louisiana. It is a publicly traded company whose stock trades on the Nasdaq market under the ticker symbol CONN.

The retailer has entered a market long dominated by national chains such as Best Buy and Circuit City, although William C. Nylin Jr., Conn's executive vice president, said Conn's welcomes the competition.

"We've been competing against the big boxes forever, so it's not a new deal for us," Nylin said. "And we like to be next door to them. Being here between Best Buy and Circuit City, we like this kind of location."

Conn's distinguishes itself from the competition by competing on price with the most popular brands and a wide selection on its shelf, Nylin said.

But the company also offers a couple of distinctive features. It has its own financing arm and provides its own service on the products it sells.

"We do all of our manufacturers' warranty work," Nylin said. "People don't have to save their receipt and their box with us. We keep it in our database and sell extended warranties."

In addition, through its financing company, Conn's finances more than half the products its sells.

"We have a $670 million credit portfolio," he said. "When people come in here to buy and they want to step up and buy that beautiful red LG washer and dryer over there, they can buy it, put it on our credit and pay for it over three years."

Nylin was in Oklahoma City for a special ribbon-cutting ceremony at the new store Thursday that was conducted by officials with the Greater Oklahoma City Chamber of Commerce.

The Conn's store debuted with a "soft opening" a couple of weeks ago and is still celebrating its grand opening, he said.

David Ashmore has been named "market manager" for Conn's and expects to oversee up to four more stores in the Oklahoma City area within the next year. Company officials are considering other store locations in Edmond, Midwest City, Norman, among other parts of the metro area, he said.

Conn's also plans to open two stores in the Tulsa area.

"What I like about Conn's is that their whole concept is taking care of the whole customer," Ashmore said. "One thing that our CEO, Tommy Franks, is very, very huge on is tracking the buying patterns of our customers. That's a very good opportunity for us to be able to not only earn that customer's business, but his family's business and friends' business with world class service."

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