The Woodlands based homegoods and furniture retailer Conn's HomePlus saw revenue and...
from the position she'd held for just more than a year and was replaced by former CEO Norm Miller, who led the company from 2015 to 2021.But during a Wednesday call with investors, Miller was optimistic about the company's future thanks to evolutions in its options for lower income customers.
In-house lease-to-own was launched last month under the name Improvement Financial, starting in three Houston area stores and expanding to 10, Miller said. Conn's plans to offer Improvement Financial online and in the majority of its stores by the end of the 2024 fiscal year.Is it better to rent or buy? It depends. These charts can help you find the best choice.
Lease-to-own may be an attractive option who can't afford to buy big-ticket items like furniture and don't have the credit needed to buy them, according to Venky Shankar, marketing professor and director of research for the Center for Retailing Studies at Texas A&M University.
Conn's also changed its credit application this past year to base approval on a"soft" credit inquiry instead of a"hard" credit check that would affect customers' credit scores. The company also simplified its process to require a single application for several credit options. The changes have led to a year-over-year increase in the number of applications this month for the first time in 18 months, Miller said.
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