Conn's, Inc. And GE Capital Extend Consumer Financing Program

Conn’s, Inc. (NASDAQ: CONN), a specialty retailer of home appliances, furniture, mattresses and consumer electronics, and GE Capital Retail Bank recently announced a multi-year extension of their consumer finance program. GE Capital’s Retail Finance business, the operating entity that provides financial solutions to retailers and dealers to help grow their customer sales, will continue to manage the Conn’s relationship and service the account, which originally launched in 2009.

"Conn's has been one of the region’s leading retailers for more than a century and the vast majority of their sales involve financing," said Paul Schell, general manager, Consumer Electronics and Appliances for GE Capital's Retail Finance business. "We're honored to continue working with Conn's to provide convenient financing options that help satisfy their customers and solutions that help Conn's continue to build their business."

The consumer financing program was expanded and extended through 2016, providing qualifying customers with access to a Conn's-branded credit card and special financing options. Customers can apply for the Conn’s Card in stores, as the Conn's credit program is available at all of its retail and clearance store locations in Texas, Louisiana and Oklahoma.

"Through various financing programs offered to qualified customers by GE Capital, customers have access to a dedicated line of credit to use for all of their purchases at Conn’s," commented Theodore M. Wright, chairman and CEO, Conn's. "Our relationship with GE Capital has assisted us in providing our customers with greater value and more convenient and flexible ways to pay for durable goods for their home."

About Conn’s, Inc.

The Company is a specialty retailer currently operating 65 retail locations in Texas, Louisiana and Oklahoma: with 22 stores in the Houston area, 14 in the Dallas/Fort Worth Metroplex, seven in San Antonio, three in Austin, one in Waco, five in Southeast Texas, one in Corpus Christi, four in South Texas, six in Louisiana and two in Oklahoma. The Company’s primary product categories include:
  • Home appliance, including refrigerators, freezers, washers, dryers, dishwashers, ranges and room air conditioners;
  • Furniture and mattress, including furniture for the living room, dining room, bedroom and related accessories and mattresses;
  • Consumer electronic, including LCD, LED, 3-D, plasma and DLP televisions, camcorders, digital cameras, Blu-ray players, video game equipment, portable audio and home theater products; and
  • Home office, including desktop and notebook computers, tablets, printers and computer accessories.

Additionally, the Company offers a variety of products on a seasonal basis, including lawn and garden equipment, and continues to introduce additional product categories for the home to help respond to its customers' product needs and to increase same store sales.

About GE Capital's Retail Finance business

GE Capital’s Retail Finance business is among the country’s most successful retail lenders, with more than 75 years of experience in consumer financing. The business, which originates loans as a unit of GE Capital Retail Bank, provides customized credit programs to retailers and consumers in the United States and Canada that help drive sales. This includes private label and bankcard credit programs to major national, regional and independent retailers in the U.S., as well as private label credit programs, promotional and installment lending, bankcards and financial services for consumers through dealers; contractors; manufacturers; healthcare practices; and service providers across nearly 20 industries. We are not just bankers; we help clients build better businesses. More information can be found at www.gogecapital.com and  twitter.com/GoGECapital.

GE Capital is one of the world’s largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, sales finance programs, home, car and personal loans and credit insurance. For more information, visit  www.gecapital.com or follow company news via Twitter @GECapital.

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at  www.ge.com.

Conns -– G

Copyright Business Wire 2010

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