Conn’s Inc. will close five of its stores -- in Oklahoma, Houston, San Antonio and two in Dallas -- this month, the Beaumont, Texas-based specialty retailer announced Friday.
The stores each averaged annual revenue of $5 million, according to Conn’s. The closures are part of Conn’s previously announced plan to close or relocate underperforming stores.
The closures will leave Conn’s with 57 stores in Texas, six in Louisiana and two in Oklahoma. Conn’s will record the impact of the closures in its fourth quarter fiscal 2012 earnings.
Meanwhile, the company still plans to open five to seven new stores during firscal 2013, Chief Executive Officer Theodore Wright said in a news release.