Conn's HomePlus to open 413,000-square-foot distribution centre in Lakeland, Florida

Company enters 15th state with new distribution centre expected to support 40 stores in the state

Conn's, Inc. (NASDAQ: CONN), specialty retailer of furniture, mattresses, home appliances, and consumer electronics, has opened a 413,000-square-foot logistics distribution centre in Lakeland, Florida, scheduled to open in August 2020.

The Conn's HomePlus Lakeland distribution center will sit along Interstate-4, a key logistics corridor, located less than 45 minutes from Tampa and Orlando, two of the nation's fastest growing cities.

Conn's HomePlus currently operates 133 retail locations across 14 states with plans to open four additional locations this fiscal year. This will bring the total number of new stores opened this fiscal year to 14, which is the highest number of new stores opened in four years.

The opening of the Conn's HomePlus Lakeland distribution center will create approximately 50 new full-time jobs, with an estimated 720 additional statewide jobs generated as the retail showrooms open. The first Florida showroom is slated to open September 2020.

"With strong operating performance and financial results, we are excited to announce plans to enter the Florida market next fiscal year," said Norm Miller, Conn's HomePlus Chairman and CEO. "We believe the state of Florida can support over 40 Conn's HomePlus locations, representing a significant expansion to our store base."

"From a logistics standpoint, Lakeland is an excellent market to select for the first Conn's HomePlus distribution center in Florida," said Randy Kendrick, Co-Founder and CEO of Xebec Realty, the owner and developer of the Lakeland distribution center. "It's central to two of the fastest growing metropolitan areas and is a region that has attracted many other top retailers. We're proud to be part of Conn's HomePlus entrance into the state."

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