THE WOODLANDS, Texas--(BUSINESS WIRE)-- Conn's, Inc. (NASDAQ:CONN), a specialty retailer of furniture and mattresses, home appliances, consumer electronics and home office products, and provider of consumer credit, today reported on the status of the Company after Hurricane Harvey made landfall on August 25, 2017.
As a result of the Hurricane and unprecedented levels of rain and flooding, Conn's closed 23 stores, its distribution and service centers in Beaumont and Houston, as well as its Beaumont corporate office. The Company's corporate offices in The Woodlands and San Antonio remained open, and supported store, credit and collections, and customer service operations outside the path of the storm.
All but two stores are now open for business and able to serve their local communities. The Company also reopened its Beaumont corporate office, and distribution and service centers. Conn's has currently lost approximately 100 store-days between August 25, 2017 and September 1, 2017. Despite the severe impact of Hurricane Harvey, this number of days compares favorably with both the impact of Hurricane Rita, which reported 134 lost store-days and Hurricane Ike, at 144 lost store-days.
"I want to thank our employees for their exceptional dedication and desire to start serving our customers in their time of need," commented Norm Miller, the Company's Chairman and CEO. "Our advanced planning, resilient infrastructure and the determination of our staff has enabled the business to minimize the impact of this terrible event."
Conn's also announced that it is pledging up to $200,000 through a donation matching program. Conn's will match dollar-for-dollar every donation from customers, employees and partners up to $200,000, and will direct the funds raised to locally based organizations and charities that need them the most, as well as to employees who have lost so much. On the ground, Conn's is supporting a number of activities within the local community through its Conn's Cares Program, which will initially see the launch of a Toy and Book Drive to support children affected by the Hurricane.
"As a Texas based business with a meaningful presence in Houston and Beaumont, we have seen firsthand how Hurricane Harvey has affected our customers, employees and communities," said Mr. Miller. "We stand by to provide support to those in need from the tragic effects of this historic natural disaster."
The Company will provide more detailed information and analysis about the impact of Hurricane Harvey when it reports second quarter fiscal year 2018 results on Thursday September 7th, 2017.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170901005415/en/
Investor Contact:
S.M. Berger & Company
Andrew Berger, 216-464-6400
Source: Conn's, Inc.
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